diamond trust bank [DTB] expansion

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HH2
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diamond trust bank [DTB] expansion

Post by HH2 »

diamond trust bank to open 20 branches in 2009

http://www.eastandard.net/InsidePage.ph ... id=457&a=1
kmaherali
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Post by kmaherali »

A Record Profit For Diamond Trust Bank

PRE-TAX PROFITS UP BY 52 PER CENT

Coastweek - - Diamond Trust Bank has announced record- breaking results for 2008, with group pre-tax profit rising sharply by 52 per cent, from Kshs 1.1 billion in 2007 to Kshs 1.6 billion in 2008.

The group's customer deposit base swelled by a remarkable 55 per cent, from Kshs 29 billion in 2007 to Kshs 45 billion over the corresponding period ending December 2008.

The loan book for the group went up by a significant 47 per cent, to stand at Kshs 34.1 billion.

"The results are a reflection of the sustained expansion of the customer base, complemented by a rapid branch expansion programme being implemented across the East African region," said the Bank's Managing Director and Group CEO Mrs. Nasim Devji.

This growth, she says, had seen DTB's market share of deposits, assets and profitability increase, year after year, over the last seven years.

The group asset base grew by 56 per cent to stand at Kshs 56.1 billion up from Kshs 36 billion;

the total group operating income rose to Kshs 3.7 billion up from Kshs 2.4 billion realized over the same period in the previous year.

The Bank's Board of Directors has recommended a dividend rate of 35 per cent, equating to KShs 1.40 per share, to share holders, the same level as the previous year.

During the course of 2008, DTB Kenya acquired a controlling interest in its Uganda affiliate; this followed the acquisition of majority control by the Kenyan bank in DTB Tanzania in 2007.

DTB Kenya also established a new banking subsidiary in Burundi late last year.

The Burundi operations are expected to commence next month.

DTB Kenya has signed up for a Kshs 2 billion financing package from IFC (International Finance Corporation).

The funding is being used by the bank to boost its ambitious expansion plans by establishing a wide branch footprint across Eastern Africa , as well as for increasing its lending to the small and medium enterprise sector.

This year the group plans to open nearly 25 new branches in the region, including a branch in Zanzibar which is due to open imminently.

DTB is an affiliate of the Aga Khan Fund for Economic Development (AKFED), the economic development arm of the Aga Khan Development Network.

Amongst the bank's key shareholders are Habib Bank Limited (HBL), an AKFED subsidiary, and the International Finance Corporation, the private lending arm of the World Bank.

http://www.coastweek.com/3211-02.htm
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Post by kmaherali »

DTB expands Kenya branch network
BY CORRESPONDENT
Updated 3 hours 33 minutes ago

DIANI, Kenya, Sep 28 - Diamond Trust Bank has opened a branch in Diani increasing its total branch network in Kenya to 23, following the opening of branches in Bungoma, Kitale, Kericho and Buru Buru this year.

Diani becomes the fifth branch at the Coast Province, after the opening of branches in Changamwe and Jomo Kenyatta Avenue in Mombasa last year as well as Malindi in 2007.

"We are delighted to announce the opening of our new branch at Diani in the South Coast to support all our customers and extending our exceptional banking services to them, particularly those in the tourism sector - who presently have to travel to Mombasa for their banking. The branch will also service customers from all surrounding areas including Ukunda, Kwale, Ramisi, Msambweni and Shimba Hills," the bank's chairman Mahmood Manji said at the ceremony to mark the opening of the branch.

Mr Manji revealed that the bank was committed to grow its foothold in the coast province with at least two more branches planned for opening in the coming months - in Voi and in the Shimanzi area in Mombasa.

The opening of the Diani Branch is testimony to the ambitious branch expansion strategy that DTB has been implementing in recent years, across the East Africa region, which is expected to increase the groups network from 30 to over 50 branches by the end of this year.

This is in line with DTB's strategy to enhance distribution channels across the region and meet the ever increasing customer demand for quality banking products and services.

DTB is an affiliate of the Aga Khan Fund for Economic Development (AKFED), the economic development arm of the Aga Khan Development Network. Amongst the bank's key shareholders are Habib Bank Limited (HBL), an AKFED subsidiary, and the International Finance Corporation, the private sector lending arm of the World Bank.

http://www.capitalfm.co.ke/business/Ken ... -3109.html
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Post by kmaherali »

Companies recognised at Ani Mukozi awards event
Agha Khan-owned DTB was voted the best bank in the country.

Emojong Osere

Kampala

Kampala City Traders Association (Kacita) has recognised and rewarded 25 companies for their continued adherence to product standards maintenance.
The 25 companies in various categories were rewarded for upholding market production and distribution standards.

In the Private firms category, KK Security firm was voted the best for its quality service in private security provision, while milk producer Sameer Agricultural and Livestock (SAL), emerged the best in the Milk and Milk Product category.

Sugar Corporation of Uganda (SCOUL) triumphed other sugar manufacturers in the Sugar Industry category to emerge the best in the awards winners were determined by the public who sent text messages to elect winners after conducting of practical exhibitions and trade fares.

Water purifier, Rwenzori Beverages, emerged the best in the water distributor category and Ssegabala and Sons Electronics Centre in Kampala was declared victor in the electronic products section in an event Kasita Spokesperson Issa Sekitto said the trader’s body would always recognise companies and firms that strive to maintain good manufacturer standards in the market.

Other companies, which bagged the annual awards, included Select Garments in the Garments category, Samona Products in the Herbal grouping, Uganda Clays in the Construction Industry category and Tororo Cement in the Cement Manufacturer group.

The awards, running in the second year in a row, also recognised WBS as the best media house in the Media House of the year category, Nice House of Plastics in the Plastics cluster while Uganda Batteries Limited triumphed in the Battery Industry.

Cooking oil manufacturer, BIDCO Company Limited scooped the award for best soap maker in the country with the white bar soap while Aloe Vera emerged top in the Herbal medicine grouping.

Also recognised in the September 30 event at Kampala’s Imperial Royale Hotel included Crown Beverages, the makers of Mountain Dew soda in the soda category, Britania Industries, the manufacturers of Sansip juice which was the consumer’s favourite. Britania also scooped the award for being the maker of the best biscuits- Glucose biscuits.

In the paint industry, Peacock Paints were voted the best in the market while Erimu Wood Company Limited became people’s favourite in the Wood Industry. The company according to the consumers produces the best paper products in the market.

The tussle in the Real Estate company category favoured Jomayi Group of Companies while the Agha Khan-owned DTB was voted the best bank in the country.

Fido Dido closed the categories by emerging the best ice cream producer in the Ice Cream cluster in what Kasita Spokesperson Issa Sekito said was the closely contested tussle. Ani Mukozi awards, popularly know as The Peoples Verdict Quality Awards are organised annually to recognise manufacturers, dealers and service providers who support the delivery of quality products and services.

See full pictorial of winners in the Daily Monitor E-paper or buy a copy of the paper.
kmaherali
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Post by kmaherali »

Abdul Samji New Chairman
Of The Diamond Trust Bank

bank's strategy of significant growth
and rapid expansion in Eastern Africa


Coastweek -- Diamond aTrust Bank has announced the appointment of its new Chairman at the Annual General Meeting held at KICC on May 27, 2010 .

Mr. Abdul Samji, is a long serving member of the Board.

Mr. Samji is a Fellow of the Association of Chartered Certified Accountants and a Member of the Institute of Certified Public Accountants of Kenya.

He is a director of the Kenya Tourist Board and a former managing partner of PKF Kenya, a firm of Certified Public Account-ants.

Mr. Samji is a Trustee of several charitable and service organizations and is a past District Governor of Rotary International, District 9200.


Coastweek -- DTB Chairman Abdul Samji.

The Chairman when addressing the Banks Share holders assured them that the Bank will continue its strategy of significant growth and rapid expansion in Eastern Africa .

The group plans to double its footprint in East Africa to over 100 branches by 2012.

DTB Kenya has also expanded its footprint in other East African markets following the opening in June 2009 of a banking subsidiary in Burundi , the first Kenyan bank to do so.

DTB is an affiliate of the Aga Khan Fund for Economic Development (AKFED), the economic development arm of the Aga Khan Development Network.

Amongst the bank's key shareholders are Habib Bank Limited (HBL), an AKFED subsidiary, and the International Finance Corporation, the private lending arm of the World Bank.

http://www.coastweek.com/3324-03.htm
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Post by kmaherali »

Diamond Trust Bank Kenya Gains Most in 3 Months: Nairobi Mover

By Eric Ombok - Mar 15, 2012 3:19 AM MT

Diamond Trust Bank Kenya Ltd. (DTKL), the country’s sixth-biggest lender by market value, headed for its largest gain in three months before a rights offer.

The stock jumped 5 percent to 94.5 shillings at 10:09 a.m. in Nairobi, the capital. A close at that level would mark the biggest advance since Dec. 15.

“It seems like someone is trying to enhance his position ahead of the rights issue,” George Bodo, an equity strategist at Nairobi-based Apex Africa Capital Ltd., said in a phone interview today.

DTB, as the bank is known, plans to sell 24.5 million shares on the basis of one-for-eight held, in a rights offer, it said March 1. The capital raised will finance the bank’s plans to explore opportunities to strengthen its presence in East Africa through its subsidiary banks and to invest in other markets in the region, Chairman Abdul Samji said.

The date and price of the offer will be determined once regulatory and shareholder approval has been received, Samji said.

Diamond Trust is an affiliate of the Aga Khan Fund for Economic Development SA, a Geneva-based holding company.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

http://www.bloomberg.com/news/2012-03-1 ... mover.html
kmaherali
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Post by kmaherali »

Diamond Trust Bank raises 12.4bn/- in rights issue
By The guardian reporter
3rd January 2013EmailPrint
Abdul Samji, DTB`s Group ChairmanDiamond Trust Bank Tanzania (DTBT) has boosted its capital base by 12.4bn/- following the recently completed rights issue which the banks says it was fully subscribed.

A statement issued by the bank on Monday said Abdul Samji, DTB’s Group Chairman, described the rights issue as a major success.
It added that according to him, the results of the rights issue are reflective of the strong support, loyalty and confidence DTB enjoys from its shareholders.

The bank had offered some 3.87 million rights to the shareholders at a discounted price of 3,200/- per new share, it said, adding that a number of its shareholders had not only taken up their rights issue, but the bank‘s core capital would increase to 48bn/-.

“With these new funds we will be able to continue with our plans for investment in branch expansion, technology and new products and explore additional opportunities to further strengthen our presence in Tanzania, a key market for the DTB Group,” Samji said.

DTB Tanzania currently has 16 branches across the country, with plans to double the footprint over the medium term, the statement said.

The significant expansion drive is in the line with Diamond Trust Bank group’s long-term strategy, dubbed as vision 2020, which is aimed at upscaling its operations throughout East Africa by continuing to rapidly expand its presence in major commercial sectors across the four markets of Tanzania, Kenya, Uganda and Burundi, it said.

DTB Tanzania is an affiliate of the Aga Khan Fund for Economic Development (AKFED), the economic development arm of the Aga Khan development Network.

The Bank’s other key shareholder is Diamond Trust Bank Kenya limited, which is also an affiliate of AKFED, it said.

SOURCE: THE GUARDIAN

http://www.ippmedia.com/frontend/index.php?l=49729
kmaherali
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Post by kmaherali »

Bank ups capital by Sh12.4bn

By The Citizen Reporter
Dar es Salaam. The Diamond Trust Bank has boosted its capital base by Sh12.4 billion following the recently completed rights issue which was fully subscribed.Mr Abdul Samji, the DTB’s group chairman described the rights issue as a major success in the history of the bank’s performance.
“The results of rights issue are reflective of strong support, royalty and confidence DTB enjoys from its stakeholders,” Mr Samji said.

The bank had offered some 3.89 million rights to the stakeholders at the discounted price of Sh3,200 per new share, he said. “A number of shareholders have not only taken up their rights but many have also applied for additional shares,” chairman said.

Mr Samji said the bank’s board had approved full allotment to all applications for rights entitled to by stakeholders as well as all applications for additional shares.

Following the rights issue, the bank’s core capital will increase to sh48 billion.

“With these new funds we will be able to continue with our plans for investment in branch expansion, improving technology and new products and explore additional opportunities to further strengthen our presence in Tanzania, a key market for DTB Group”, said Mr Samji.

DTB Tanzania currently has 16 branches across the country with plans to double the footprint over the medium term.

More.....

http://thecitizen.co.tz/business/-/2807 ... by-sh124bn
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Post by kmaherali »

Bank’s profits expand by 18pc Send to a friend
Thursday, 28 March 2013 20:36

By Veneranda Sumila
The Citizen Reporter
Dar es Salaam. The Diamond Trust Bank (T) (DTBT) reported an 18 per cent growth in pre-tax profits last year, the bank’s financial statements showed yesterday.

Pre-tax profit reached Sh12.1 billion in 2012 from Sh10.2 billion in 2011, according to an extract from the bank’s audited financial statement published in the media yesterday.
The bank asset base went up by 25 per cent to reach Sh400 billion during the year under review from the 2011 level of Sh322 billion.

During the same period, the deposit base rose by 21 per cent from Sh278 billion while the loan book swelled 33 per cent to stand at Sh256 billion in the year ending 2012 from Sh193 billion in 2011 as the ratio of non-performing loans to gross loans remained down to less than one per cent.

Bank’s chairman Abdul Samji attributed the high performance in 2012 to a sound risk management and ethical practices.

“The sound risk management practices adopted and the commitment to strong ethics has once again stood the bank in good stead,” he said in a separate statement availed to The Citizen yesterday.He said the bank’s underlying growth benefitted from a continuously expanding customer base serviced through the increasing network of branches.

He revealed further that the Internet banking product, launched in 2012, has been well received in the Tanzanian market and the introduction of mobile banking in the next few months will further add to the choices available to the clients.

Mr Samji said that DTBT would continue to focus on its branch expansion programme in major urban areas in the country, with four new branches expected in the current financial year, including Iringa, Morogoro and Mtwara.

DTBT is part of the DTB group with branch network in East Africa standing at 91 presently. In Kenya, the bank operates 44 branches whilst in Uganda and Tanzania, DTB has 27 and 16 branches respectively; DTB Kenya’s subsidiary in Burundi operates four branches.

DTB is an affiliate of the Aga Khan Fund for Economic Development (AKFED), the economic development arm of the Aga Khan Development Network.

http://thecitizen.co.tz/business/13-loc ... nd-by-18pc
kmaherali
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Post by kmaherali »

Shs 1billion Stolen from DT Bank, 2 Guards Arrested

Police in Kampala this morning arrested two security guards suspected to be behind a robbery where over Shs 1billon was stolen from Diamond Trust Bank at the close of last year.

The money was being escorted by guards from the bank’s Nakivubo branch and it was robbed at gun point before it reached the Kampala road branch.

Polly Namaye the deputy police spokesperson revealed that Peter Adama and Geofrey Makoba are suspected to have been part of the robbery and are now being held at Kampala Central police station.

According to Namaye, Adama had already given his wife Shs.20 million to start business in Mbale and upon arrest he was also found with Shs. 25 million whereas his accomplice was found with Shs. 150million.

Police says after the robbery, the vehicle which was moving the money was parked alongside the road and security uniforms and the guns were recovered at the scene.

http://www.chimpreports.com/shs-1billio ... -arrested/
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Post by kmaherali »

DTB recognized as best innovative bank

The award was presented during a colorful event officiated by the Minister without Portfolio Hajji Abudu Nadduli.

Left Right Hussein Omar (Head-of-Projects),Samuel-Muyingo(Head of Money Transfers and Marketing)

Diamond Trust Bank has for the third time been recognized by Customers as the Best Innovative Bank during the People's Choice Quality Awards 2016’.

The award was presented during a colorful event officiated by the Minister without Portfolio Hajji Abudu Nadduli at Imperial Royal Hotel in Kampala.

DTB was considered to be the best innovative bank because it’s the only institution in the banking industry with a payment platform that enables business (merchants) to receive payments instantly from customers via mobile money to the merchant’s bank account.

The service called Pay Easy was launched recently and has quickly gained momentum due to the ease at which both corporate and individual customers are able to transact business and make payments across mobile money and banking platforms

Samuel Muyingo, the of Head of Money Transfers and Marketing, spoke at the occassion.

He said: “the innovations consolidate Diamond Trust Bank's position as a market leader in the use of technology-led financial service products which is in line with our vision of enabling people to advance with confidence and success by not only offering innovative products and services but also delivering them in a way which is both convenient and secure."

He added that a number of banks have rolled out mobile banking service but over and above the mobile banking platforms, DTB Mobile banking also has a unique feature that enables their customers to stop a cheque but no other bank has this feature on their mobile banking platform.

DTB is one of the first banks in Uganda to introduce Digital banking. Digital banking service are available at DTB Kampala Road branch, Jinja, Owino, Nakivubo, Wandegeya, Ntinda, Masaka and Mbarara during normal business hours but available 24/7 at DTB Parliament Avenue, Seeta, Namanve and Kikuubo branch.

http://www.newvision.co.ug/new_vision/n ... ative-bank
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Post by kmaherali »

DTB and Habib Bank in merger deal

Influential Ismaili leader Prince Karim Aga Khan is moving to consolidate two local banks that his companies control.

Central Bank of Kenya (CBK) yesterday announced that Diamond Trust Bank (DTB) would acquire Habib Bank Ltd (HBL) in a deal that would be concluded by June.

CBK said the transaction would be subject to approval locally and in Karachi, Pakistan where HBL moved its headquarters six years after it was established in Mumbai, India.


"The transaction is expected to be completed by July 2017. CBK will provide further updates as the transaction progresses," said CBK in a statement.

The Aga Khan Fund for Economic Development owns 17 per cent stake in DTB and 51 per cent stake in HBL, according to filings in December 2015.

HBL also owns a 12 per cent stake in DTB while Jubilee Holdings has cross-cutting ownership in the two banks.

More...
https://www.standardmedia.co.ke/busines ... erger-deal

******
Cautionary notice to shareholders and the public regarding our acquisition of Habib Bank Limited Kenya.

https://twitter.com/DTBKenya/status/844193150189092864
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Habib Bank ceases to exist after 61 years as DTB completes buyout
Friday, July 28, 2017 15:28


Habib Bank will cease to exist from Tuesday next week after Diamond Trust Bank (DTB) completed its acquisition.

The 100 per cent acquisition followed Central Bank of Kenya (CBK) approval on June 21 for Habib Bank Limited (Pakistan) -- which fully owned Habib Bank Kenya (HBLK) and an existing DTB shareholder -- to acquire an additional 4.18 per cent shareholding in DTB under Section 13 (4) of the Banking Act, as a consideration for the acquisition.

READ: Habib Bank shareholders get 2.6pc discount on DTB shares - VIDEO

ALSO READ: Habib owners to gain 9pc on DTB share after buyout

A subsequent approval by the Treasury Cabinet secretary Henry Rotich on July 7 allowed DTB to take over HBLK, completing the deal.

“Effective August 1, 2017, HBLK will cease to be a bank licensed by CBK, and its rights and obligations will be taken up by DTB.

"All HBLK stakeholders including depositors, borrowers, employees, and creditors will therefore continue their relationships with DTB,” CBK said in a statement on Friday.

READ: DTB leads bank stocks charge at 13-month high

Licensed in 1997

DTB was licensed in 1997, and is ranked sixth in terms of market share as at May 31, with 63 branches, while HBLK was licensed in 1956 and ranked 33rd in term of market share, with five branches.

Together, they had a combined market share of about six per cent by end of May 2017.

DTB has a banking presence in Kenya, Uganda, Tanzania and Burundi, and is listed at the Nairobi Securities Exchange (NSE).

----------------


Photo: 2014 - Prince Rahim and Princess Salwa at the opening of the new DTB headquarters in Nairobi.


Image
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Post by kmaherali »

DTB receives US$ 50 million Covid-19 SME support from IFC

Nairobi, Kenya, 12 August 2020 - Diamond Trust Bank Kenya Limited (DTB) has signed an agreement for a US$ 50 million loan with International Finance Corporation (IFC), a member of the World Bank Group, to support its borrowers who have been affected by the COVID-19 pandemic, especially small and medium enterprises (SMEs).

The funds are being provided under IFC’s global US$ 8 billion fast-track COVID-19 facility, launched in March to protect jobs and support businesses with working and trade-related capital as economies grapple with the challenges of the pandemic.

Nasim Devji, Group CEO and Managing Director DTB, said, “As an SME bank, we are aware that these businesses are among the hardest hit by the fall-out of the pandemic. This facility will enable us to support SMEs to address their cash flow challenges, which is a key concern as businesses need easy access to short-term liquidity.”

In April, the Central Bank of Kenya reported that SMEs had been hit harder than larger companies by COVID-19 in part due to their challenges accessing capital. The World Bank Kenya Economic Update projects that Kenya’s gross domestic product will fall this year due to the negative impacts of COVID-19, underscoring the need to support the country’s smaller businesses.

“We urge our SME borrowers to take advantage of the facility to ensure their survival during these tough times, as we remain committed to their development,” Ms Devji added.

Manuel Moses, IFC Country Manager for Kenya, said, “IFC’s partnership with DTB Kenya is part of our strategy to help businesses in Kenya manage the impacts of COVID-19 so they can continue providing essential goods and services and maintain jobs. IFC is committed to helping countries across Africa meet the unique challenges of COVID-19 and also speed the process of recovery.”

IFC has earmarked US$ 2 billion of its US$ 8 billion COVID-19 facility to the IFC Working Capital Solutions Program to provide funding to emerging-market banks so they can help businesses shore up their working capital needs.

The IFC COVID-19 facility will support existing clients in the infrastructure, financial, manufacturing, agriculture, health, and other sectors vulnerable to the pandemic.

https://www.akdn.org/press-release/dtb- ... upport-ifc
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Post by kmaherali »

DTB vs HAM: How the case impacts Uganda’s banking system

Prominent Ugandan Mogul, Ham Kiggundu is currently in court with Diamond Trust Bank Uganda and DTB Kenya for the institutions allegedly removing over $23 million illegally from his business accounts over the course of a decade. As the case gains attention, CNBC Africa spoke to Kenneth Agutamba, Analyst and Chief Strategist of Impact Communication Strategies about what a case like this could mean for the way VIP clients interact with their banks in the future.

Video:

https://www.cnbcafrica.com/videos/2020/ ... ee9d77dc9f
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Post by kmaherali »

Diamond Trust Bank to appeal court's ruling in favour of Ham

Commercial Court head Justice Henry Peter Adonyo on Wednesday ruled that the credit facilities DTB-Kenya offered to Kiggundu are illegal since it is not licenced by Bank of Uganda

Diamond Trust Bank is dissatisfied with Wednesday's Commercial Court ruling in their loans case against Ham Enterprises Ltd, owned by businessman Kamis Kiggundu and will appeal.

Commercial Court head Justice Henry Peter Adonyo on Wednesday ruled that the credit facilities DTB-Kenya offered to Kiggundu are illegal since it is not licenced by Bank of Uganda as required under the law to carry out financial business in Uganda.

"The act of DTB-Kenya in conducting financial business is licenced in Kenya and it therefore illegally offered the facilities in Uganda. Consequently, this application is allowed with costs," Adonyo ruled.

In a statement issued on Thursday, the Bank said it had filed a notice of appeal against the court's ruling.

"DTB, in consultation with its legal advisers, has filed a notice of appeal against the judgment of Justice Henry Peter Adonyo. We look forward to the expeditious resolution of the matter in the Court of Appeal and are confident that the case will be determined on its merits," the bank said.

In March this year, Kiggundu and his two companies Ham Enterprise Limited and Kiggs International (U) limited dragged DTB -Uganda, and DTB-Kenya to the Commercial Court accusing them of fraudulently siphoning over sh120b from his accounts without his knowledge and consent.

Kiggundu contended that between February 2011, and August 2018, through his companies Ham Enterprise Limited and Kiggs International (U) limited sought and was offered credit facilities by the banks for the construction of commercial properties.

https://www.newvision.co.ug/news/152884 ... favour-ham
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