Kalpana Kalpana (Editor)

Diamond Trust Bank Group

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Type  Public
Industry  Banking
Founded  1945
Traded as  KN: DTK
Headquarters  Nairobi

Key people  Abdul Samji Chairman Nasim Devji Group CEO
Products  Banks, mortgages investments
Revenue  Aftertax:US$64+ million (KES:5.54 billion) (2013)
Subsidiaries  Diamond Trust Bank (Tanzania) Limited
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Diamond Trust Bank Group (DTB Group) is a major banking group in East Africa, active in Burundi, Kenya, Tanzania, and Uganda. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and national banking regulator in Kenya, the largest economy in the East African Community.

Contents

Location

DTB Group's main offices are located at Diamond Trust Bank Centre (DTBC), along Mombasa Road, in Nairobi, Kenya. The coordinates of DTBC are:1°19'35.0"S, 36°50'54.0"E (Latitude:-1.326389; Longitude:36.848333).

Overview

The flagship of DTB Group is Diamond Trust Bank (Kenya), which was founded in 1946. As of December 2013, the group is ranked the eighth largest commercial bank, by assets, out of 43 licensed banks in Kenya. At that time, the group's total assets were approximately US$1.924 billion (KES:166.52 billion), with shareholders' equity of about US$242.1 million (KES:20.95 billion).

The group works in collaboration with the Habib Bank of the Aga Khan Fund for Economic Development and the International Finance Corporation of the World Bank.

Member companies

DTB Group includes the following companies:

Subsidiaries

  1. Diamond Trust Bank (Kenya) Limited - Retail banking - Nairobi, Kenya 100% Shareholding - A commercial bank in Kenya, serving individuals and businesses. This is the flagship company of the group.
  2. Diamond Trust Bank (Uganda) Limited - Retail banking - Kampala, Uganda 54.1% Shareholding - A commercial bank in Uganda, serving both individuals and businesses.
  3. Diamond Trust Bank (Tanzania) Limited - Retail banking - Dar es Salaam, Tanzania 62.9% Shareholding - A commercial bank in Tanzania, serving both individuals and businesses.
  4. Diamond Trust Bank (Burundi) Limited - Retail banking - Bujumbura, Burundi 67.3% Shareholding - A commercial bank in Bujumbura, serving individuals and businesses.
  5. Diamond Trust Insurance Agency Limited - Bancassurance - Nairobi, Kenya 100% Shareholding - This unit offers Bancassurance services.
  6. Diamond Trust Bank (Rwanda) Limited - Retail banking - Kigali, Rwanda - In development.
  7. Premier Savings and Finance Limited - Dormant - Nairobi, Kenya 100% Shareholding.

Associates companies to the group

  • Jubilee Insurance Company of Burundi - Insurance - Bujumbura, Burundi - 20% Shareholding - An insurance company in Burundi. A member of Jubilee Insurance Company Limited. Jubilee Insurance which shares a common shareholder with Diamond Trust Bank (i.e. AKFED) holds 80 percent of the venture.
  • Services and Systems Limited - Dormant]] - Nairobi, Kenya - 40 percent Shareholding.
  • Ownership

    The shares of the Diamond Trust Bank Group are listed on the Nairobi Stock Exchange (NSE). As of December 2012, the major shareholders in the Group's stock, are depicted in the table below: In 2013, Habib Bank announced its intention increase shareholding in Diamond Trust Bank from 11.42% to 26% over a five-year period. This would be through the purchase of shares from existing shareholders at the prevailing market price.

    Branch network

    As of August 2014 DTB Group maintains a total of nearly 100 branches in the East African countries where it operates. In May 2012, Kenyan press reports indicated that the group planned expansion into Rwanda, the Democratic Republic of the Congo, Mozambique and South Sudan by 2020.

    References

    Diamond Trust Bank Group Wikipedia


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