Diamond Trust Bank (Uganda) Limited
Managing Director & CEO
|Products||Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages|
|Revenue||Aftertax: US$6 million (UGX:14.92 billion) (2012)|
|Total assets||US$252.5 million (UGX:628.5 billion) (2012)|
As of November 2011, the bank was a fast-growing, medium-sized, banking institution, providing commercial banking services to individuals, small and medium enterprises (SMEs) and large corporations. According to the bank's annual financial statement for December 2012, the total asset valuation was in excess of US$252 million (UGX:628.5 billion), representing approximately 4% of banking assets in Uganda at that time. At that time, shareholders' equity was valued at about US$22 million (UGX:54.63 billion).
The history of Diamond Trust Bank (Uganda) Limited dates back to 1945, when it was operating as the Diamond Jubilee Investment Trust, with its head office in Dar es Salaam, Tanzania, and branches in Mombasa, Kenya and Kampala, Uganda. Branches were later opened at Nairobi and Kisumu in Kenya. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African Ismaili Community; and the mobilization of their savings. In 1965, Diamond Jubilee Investment Trust was decentralized, and split into three entities, one each in Kenya, Tanzania and Uganda.
In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited (DTPU). In 1972 Diamond Trust (Uganda) Limited (DTU) commenced operations as a non-bank financial institution. Between 1972 and the early 1990s, DTU was largely moribund due to the prevalent political instability.
In 1995 the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development (AKFED) and Diamond Trust Bank (Kenya) Limited (DTBK). In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited (DTBU).
Diamond Trust Bank Group
DTBU is a member of the Diamond Trust Bank Group, a large financial services provider in East Africa, with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda. Members of this group include:
- Diamond Trust Bank (Burundi) Limited
- Diamond Trust Bank (Kenya) Limited
- Diamond Trust Bank (Rwanda) Limited
- Diamond Trust Bank (Tanzania) Limited
- Diamond Trust Bank (Uganda) Limited
|Rank||Name of Owner||Percentage Ownership|
|1||Diamond Trust Bank (Kenya) Limited||51.0|
|2||Aga Khan Fund for Economic Development||49.0|
Diamond Trust Bank (Uganda) Limited is governed by a seven-person Board of Directors. Abdul Samji, one of the non-Executive Directors is the Chairman of the Board. Varghese Thambi, one of the Executive Directors is the Managing Director and Chief Executive Officer. He is assisted by nine other managers in supervising the bank's daily activities.
As of March 2015[update], Diamond Trust Bank (Uganda) Limited has a network of branches in the Central, Eastern, Northern and Western regions of Uganda. The current branch network includes the following locations:
- Arua Branch - 18-20 Avenue Road, Arua
- Busia Branch - 9 Sophia Lane, Busia
- Bwaise Branch - 3300 Bombo Road, Bwaise, Kampala
- Equatoria Branch - Equatoria Hotel Building, 37-39 William Street, Kampala
- Forest Mall Branch - Forest Shopping Mall, Lugogo Bypass, Kampala
- Freedom City Branch - Freedom City Mall, Namasuba, Kampala
- George Street Branch - Georgian House, George Street, Kampala
- Industrial Area Branch - 10-12 Kibira Road, Kampala
- Jinja Branch - 32-34 Main Street, Jinja
- Kabalagala Branch - Ggaba Road, Kabalagala, Kampala
- Kampala Road Branch - 17-19 Kampala Road, Kampala Main Branch
- Kamwookya Branch - 67 Kira Road, Kamwookya, Kampala
- Kisenyi Branch - USAF Market, Kisenyi, Katwe Zone, Kampala
- Kikuubo Branch - Sena Arcade, 60 Ben Kiwanuka Street, Kampala
- Kitintale Branch - 1336 Port Bell Road, Kitintale, Kampala
- Kyengera Branch - Ssendi House, 415 Masaka Road, Kyengera
- Lira Branch - 4 Aputi Road, Lira
- Malaba Branch - 24 Kwapa Road, Malaba, Uganda
- Masaka Branch - 39 Kampala Road, Masaka
- Mbale Branch - 15B Bishop Wasike Road, Mbale
- Mbarara Branch - 54 Mbaguta Road, Mbarara
- Naalya Branch - Metroplex Shopping Mall, Naalya
- Nakivubo Branch - Ssekaziga House, 12-37 Channel Street, Kampala
- Nansana Branch - Nansana
- Nateete Branch - Batuma House, 764 Masaka Road, Nateete, Kampala
- Ndeeba Branch - 336 Masaka Road, Ndeeba, Kampala
- Ntinda Branch - Haruna Shopping Centre, 2117 Kira Road, Ntinda, Kampala
- Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala
- Old Kampala Branch - 17-21 Club House, Old Kampala, Kampala
- Owino Market Branch - St. Balikuddembe Market, Kampala
- Victoria Mall Branch - Victoria Mall, Entebbe
- Wandegeya Branch - 38 Bombo Road, Wandegeya, Kampala
- "List of Licensed Commercial Banks In Uganda" (PDF). Bank of Uganda. Retrieved 25 April 2014.
- "History of Diamond Trust Bank (Uganda) Limited". Diamond Trust Bank. Retrieved 3 May 2014.
- Vision, Reporter (22 August 2007). "60 Year Old Diamond Trust Bank Rebrands". New Vision. Retrieved 3 May 2014.
- New, Times (14 August 2009). "Kenya’s Diamond Trust Bank To Extend To Rwanda". The New Times (Rwanda). Retrieved 3 May 2014.
- Riungu, Catherine (13 March 2009). "Armed With Profits, Diamond Trust Heads To Zanzibar, Burundi". The EastAfrican. Retrieved 3 May 2014.
- "List of Diamond Trust Bank Branches In Uganda". DTB Uganda. Retrieved 13 March 2015.
- Ainebyona, Emmanuel (16 January 2015). "DTB Widens Footprint With Four New Branches". Daily Monitor (Kampala). Retrieved 16 January 2015.
- Masinde, Andrew (14 March 2014). "Kisenyi Residents Advised To Embrace Development". New Vision. Retrieved 3 May 2014.