Diamond Trust Bank Group

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Not to be confused with Diamond Bank of Nigeria.
Diamond Trust Bank Group
Type Public
Traded as KN: DTK
Industry Banking
Founded 1945
Headquarters DTB Centre
Mombasa Road
Nairobi, Kenya
Key people Abdul Samji
Chairman
Nasim Devji
Group CEO
Products Banks, mortgages investments
Revenue Increase Aftertax:US$64+ million (KES:5.54 billion) (2013)
Total assets US$1.924+ billion (KES:166.52 billion) (2013)
Website www.dtbafrica.com

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, East Africa's largest economy.[1]

Location[edit]

The 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).[2]

Overview[edit]

The flagship of the Group is Diamond Trust Bank (Kenya), which was founded in 1946. As of December 2013, the Group is ranked the 8th largest commercial bank, by assets, out of 43 licensed banks in Kenya.[3] At that time, the Group's total assets were valued at approximately US$1.924 billion (KES:166.52 billion), with shareholders' equity of about US$242.1 million (KES:20.95 billion).[4]

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[edit]

Diamond Trust Bank together with its subsidiaries, which it owns, either wholly or partially, form the Diamond Trust Bank Group. The group includes the following companies:

Subsidiaries[edit]

  1. Diamond Trust Bank (Kenya) Limited - Retail banking - Nairobi, Kenya 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 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 Tanzania 62.9% Shareholding - A commercial bank in Tanzania, serving both individuals and businesses.
  4. Diamond Trust Bank (Burundi) Limited - Retail banking - Bujumbura, Burundi Burundi 67.3% Shareholding - A commercial bank in Bujumbura, serving individuals and businesses.
  5. Diamond Trust Insurance Agency Limited - Bancassurance - Nairobi, Kenya Kenya 100% Shareholding - This unit offers Bancassurance services.
  6. Diamond Trust Bank (Rwanda) Limited - Retail banking - Kigali, Rwanda Rwanda - In development.[5][6]
  7. Premier Savings and Finance Limited - Dormant - Nairobi, Kenya Kenya 100% Shareholding.

Associates companies to the group[edit]

Ownership[edit]

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:[7] 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.[8]

Diamond Trust Bank Group Stock Ownership
Rank Name of Owner Percentage Ownership
1 Aga Khan Fund for Economic Development (AKFED) 17.32
2 HBL Pakistan of Pakistan part of AKFED 11.42
3 Jubilee Insurance company of Kenya part of AKFED 10.54
4 International Finance Corporation part of World Bank 9.85
5 The Diamond Jubilee Investment Trust (U) Limited, a subsidiary of AKFED 1.87
6 Craysell Investments Ltd 1.17
7 Amin Nanji Juma 0.92
8 Standard Chartered Nominees A/C 9230 0.70
9 Property Development and Management Limited 0.68
10 Phoenix of East Africa Assurance Company Limited 0.64
11 Others via Nairobi Securities Exchange 44.89
Total 100.00

Branch network[edit]

As of August 2014 DTB Group maintains a total of nearly 100 branches in the East African countries where it operates.[9] 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.[10]

See also[edit]

References[edit]

  1. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies". Central Bank of Kenya (CBK). Retrieved 12 August 2014. 
  2. ^ Google, . "Location of Diamond Trust Bank Centre At Google Maps". Google Maps. Retrieved 12 August 2014. 
  3. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 12 August 2014. 
  4. ^ DTBG, . (3 March 2014). "Audited 31 December 2013 Financial Statements And Other Disclosures" (PDF). Diamond Trust Bank Group (DTBG). Retrieved 12 August 2014. 
  5. ^ Business Times, Correspondent (15 August 2009). "Kenya’s Diamond Trust Bank To Extend To Rwanda". The New Times (Kigali). Retrieved 12 August 2014. 
  6. ^ Herbling, David (4 March 2014). "DTB Charts New Expansion Path for Kenya Banks". Business Daily Africa (Nairobi). Retrieved 12 August 2014. 
  7. ^ DTBG, . "Diamond Trust Bank Group: Shareholding Structure". Diamond Trust Bank Group (DTBG). Retrieved 12 August 2014. 
  8. ^ Ngigi, George (16 December 2013). "Pakistan’s Biggest Bank In Bid for 26% DTB Stake". Business Daily Africa (Nairobi). Retrieved 12 August 2014. 
  9. ^ Irungu, Geoffrey (11 March 2011). "Diamond Trust Profit Hits KSh2.5 Billion". Business Daily Africa (Nairobi). Retrieved 12 August 2014. 
  10. ^ Nation, Correspondent (4 May 2012). "DTB Gears Up for Rights Issue To Drive Regional Expansion". Daily Nation (Nairobi). Retrieved 12 August 2014. 

External links[edit]