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$36.5+ million (KES:2.99 billion) (2011)[1]
Total assets US$992.2+ million (KES:84 billion) (2010)
Website www.dtbafrica.com

Diamond Trust Bank Group (DTB Group) is a major banking group in East Africa, active in Burundi, Kenya, Tanzania, Uganda and Rwanda.

Overview[edit]

The flagship of the Group is Diamond Trust Bank (Kenya), which was founded in 1946. The Group is ranked the 7th largest commercial bank in Kenya.[2] The Group is affiliated with the Habib Bank of the Aga Khan Fund for Economic Development and the International Finance Corporation of the World Bank. The Group main offices are located in Nairobi, Kenya.[3][4] The shares of the banking group are listed on the Nairobi Stock Exchange (NSE) and trade under the symbol: DTK. As of December 2010, DTB Group total assets were valued at about US$992.2 million (KES:84 billion).[5] 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 market price.[6]

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 include the following:[7]

  1. Diamond Trust Bank (Kenya) - 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) - Retail banking - Kampala, Uganda Uganda 54.1% Shareholding - A commercial bank in Uganda, serving both individuals and businesses.
  3. Diamond Trust Bank (Tanzania) - 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) - 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) - Retail banking - Kigali, Rwanda Rwanda - In the process of being set up.[8]
  7. Premier Savings and Finance Limited - Dormant - Nairobi, Kenya Kenya 100% Shareholding.

Associates companies to the group are:

Ownership[edit]

The shares of the Diamond Trust Bank Group are listed on the Nairobi Stock Exchange (NSE). The shareholding of DTB Group is as follows:[9]

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) Ltd part 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 December 2010 DTB Group maintains a total of sixty-four (64) bank branches in the East African countries where it has operations, with Fifty (50) in Kenya, eighteen (18) in Uganda, twelve (12) in Tanzania and two (2) in Burundi. The Group plans to expand the branch network to a total of over one hundred branches (100) within the next three (3) years.[10] In May 2012, Kenyan press reports indicated that the group planned expansion into Rwanda in 2012 and into the Democratic Republic of the Congo, Mozambique and South Sudan by 2020.[11]

External links[edit]

See also[edit]

References[edit]