By Sharon Chepng’etich
Diamond Trust Bank (DTB) has announced a 9 per cent increase in pre-tax profit to Kshs11 billion for the year ended 31st December 2018.
The bank’s assets grew to Kshs378 billion, 4 per cent higher than the previous year, driven mainly by growth in customer deposits which went up to Kshs283 billion, an increase of 6 per cent over the previous year.
DTB’s Managing Director and Group Chief Executive Officer, Nasim Devji said the strong results reflect the firm’s resilience as well as its strong, loyal and diverse customer base in East Africa.
“This performance is anchored on the Group’s market positioning and long history in the East African region serving these customers. A solid shareholder base also augments our inherent strength,” Ms. Devji said.
The Bank’s non-performing loans dropped from Kshs13 billion to Kshs12.1 billion. And it maintained a high liquidity ratio of 53.5 per cent at the end of 2018, compared to the 20 per cent minimum prescribed by the regulator.
It is also one of the highest capitalized banks in Kenya, with the ratio of core capital to total risk weighted assets standing at 18.7 per cent, against the 10.5 per cent minimum required by the Central Bank.
DTB’s board proposed a first and final dividend of Kshs 2.60 per share which is the same as the previous year with earnings per share increasing from Kshs 23.73 to Kshs 23.91