Diamond Trust Bank (Uganda)

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Diamond Trust Bank (Uganda) Limited
Private
Industry Financial services
Founded 1945
Headquarters Kampala, Uganda
Key people
Abdul Samji
chairman
Varghese Thambi
chief executive officer
Products Loans, savings, checking, investments, debit cards, credit cards, mortgages
Revenue Increase:Aftertax: US$8 million (2015)[1]
Total assets UGX:1.3 trillion (2015)[2]
Website Homepage

Diamond Trust Bank (Uganda) Limited is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the central bank and national banking regulator.[3]

Overview[edit]

As at December 2016, the bank's total assets were valued at about UGX:1.3 trillion, making it the seventh largest commercial bank in Uganda by assets at that time, controlling about 4 percent of the assets in the banking industry.[2]

History[edit]

The bank dates to 1945, when it was operating as the Diamond Jubilee Investment Trust (DJIT), 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, DJIT was split into three entities, one each in Kenya, Tanzania, and Uganda.[4]

In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited. 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 because of political instability.[4]

In 1995, the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development and Diamond Trust Bank (Kenya) Limited. In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited.[4]

Diamond Trust Bank Group[edit]

DTBU is a member of the Diamond Trust Bank Group, a large financial services provider with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.[5][6]

Ownership[edit]

Diamond Trust Bank (Kenya) Limited owns at least 56.97 percent of the shares in Diamond Trust Bank (Uganda) Limited.[1]

Branch network[edit]

As of January 2016, Diamond Trust Bank (Uganda) Limited had a network of branches in the central, eastern, northern, and western regions of Uganda. The branch network included the following locations:[7]

  1. Arua Branch - 18-20 Avenue Road, Arua
  2. Busia Branch - 9 Sophia Lane, Busia
  3. Bwaise Branch - 3300 Bombo Road, Bwaise, Kampala
  4. Equatoria Branch - Equatoria Hotel Building, 37-39 William Street, Kampala
  5. Forest Mall Branch - Forest Shopping Mall, Lugogo Bypass, Kampala[8]
  6. Freedom City Branch - Freedom City Mall, Namasuba, Kampala
  7. George Street Branch - Georgian House, George Street, Kampala
  8. Industrial Area Branch - 10-12 Kibira Road, Kampala
  9. Jinja Branch - 32-34 Main Street, Jinja
  10. Kabalagala Branch - Ggaba Road, Kabalagala, Kampala[8]
  11. Kampala Road Branch - 17-19 Kampala Road, Kampala Main Branch
  12. Kamwookya Branch - 67 Kira Road, Kamwookya, Kampala
  13. Kisenyi Branch - USAF Market, Kisenyi, Katwe Zone, Kampala[9]
  14. Kikuubo Branch - Sena Arcade, 60 Ben Kiwanuka Street, Kampala
  15. Kitintale Branch - 1336 Port Bell Road, Kitintale, Kampala
  16. Kyengera Branch - Ssendi House, 415 Masaka Road, Kyengera
  17. Lira Branch - 4 Aputi Road, Lira
  18. Malaba Branch - 24 Kwapa Road, Malaba, Uganda
  19. Masaka Branch - 39 Kampala Road, Masaka
  20. Mbale Branch - 15B Bishop Wasike Road, Mbale
  21. Mbarara Branch - 54 Mbaguta Road, Mbarara
  22. Naalya Branch - Metroplex Shopping Mall, Naalya
  23. Nakivubo Branch - Ssekaziga House, 12-37 Channel Street, Kampala
  24. Namanve Branch - Kampala Industrial and Business Park, Namanve[10]
  25. Nansana Branch - Nansana[8]
  26. Nateete Branch - Batuma House, 764 Masaka Road, Nateete, Kampala
  27. Ndeeba Branch - 336 Masaka Road, Ndeeba, Kampala
  28. Ntinda Branch - Haruna Shopping Centre, 2117 Kira Road, Ntinda, Kampala
  29. Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala
  30. Old Kampala Branch - 17-21 Club House, Old Kampala, Kampala
  31. Owino Market Branch - St. Balikuddembe Market, Kampala[8]
  32. Victoria Mall Branch - Victoria Mall, Entebbe
  33. Wandegeya Branch - 38 Bombo Road, Wandegeya, Kampala

See also[edit]

References[edit]

  1. ^ a b Juma, Victor (5 May 2016). "DTB raises stake in Uganda unit with $10.9 million injection". The EastAfrican. Nairobi. Retrieved 27 August 2016. 
  2. ^ a b Naibuzz.com (20 May 2016). "The 8 Biggest Banks In Uganda". Nairobi: Naibuzz.com. Retrieved 27 August 2016. 
  3. ^ Bank of Uganda (31 March 2016). "Bank of Uganda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Retrieved 27 August 2016. 
  4. ^ a b c Diamond Trust Bank (27 August 2016). "History of Diamond Trust Bank (Uganda) Limited". Kampala: Diamond Trust Bank. Retrieved 27 August 2016. 
  5. ^ Vision Reporter (22 August 2007). "60 Year Old Diamond Trust Bank Rebrands". New Vision. Retrieved 3 May 2014. 
  6. ^ New Times Reporter (14 August 2009). "Kenya's Diamond Trust Bank To Extend To Rwanda". The New Times (Rwanda). Retrieved 3 May 2014. 
  7. ^ "List of Diamond Trust Bank Branches In Uganda". DTB Uganda. Retrieved 13 March 2015. 
  8. ^ a b c d Ainebyona, Emmanuel (16 January 2015). "DTB Widens Footprint With Four New Branches". Daily Monitor. Kampala. Retrieved 16 January 2015. 
  9. ^ Masinde, Andrew (14 March 2014). "Kisenyi Residents Advised To Embrace Development". New Vision. Retrieved 3 May 2014. 
  10. ^ Ladu, Ismail Musa (19 January 2016). "The unending tale of Kampala Industrial and Business Park". Daily Monitor. Kampala. Retrieved 19 January 2016. 

External links[edit]