Kenya’s Diamond Trust Bank posts a 36.5pc drop in net profit to Sh2. 6bn in H1’20
Diamond Trust Bank Kenya has reported a 36.5 percent year on year decline in Profit after Tax to Sh2.6 billion in the first six months of 2020.
The bank’s loan provisions during the period under review surged 249.2 percent year on year to Sh1.9 billion.
Top-line performance was supported by Non-Interest Revenue, which grew 5.9 percent and 1.2 percent growth in Net Interest Income.
Consequently, operating income was up 2.3 percent to Sj12.4 billion.
Total operating expenses before provisions rose 7.3 percent to Sh 6.1 billion.
Reversing the trend of losing deposits in the prior 2 quarters, the bank grew deposits during the quarter to settle at Sh280.4 billion.
The loan book grew 5.6 percent to Sh201.5Bn and investment in government securities increased 9.7 percent to Sh 132.5 billion.