Diamond Trust Bank (DTB) Kenya has posted a half-year profit of Ksh4.1 billion for the first six months of 2019.
The lender’s H1 results point to a 10% year on year increase in profit, up from the Ksh3.7 billion that was posted during the same period of review last year.
In unaudited results by DTB Kenya, the bank also revealed an increase in non-performing loans, from Ksh12.1 billion to Ksh12.2 billion.
The bank’s assets as per the unaudited half-year results revealed a slight decline. As of June 30, 2018, DTB Kenya had total assets worth Ksh376 billion but as of the end of this June, that figure has retreated to Ksh375 billion.
On the other hand, liabilities decreased from Ksh321 billion to Ksh313 billion for the 2019 HY results.
DTB Kenya, which is listed at the Nairobi Securities Exchange (NSE), is worth an approximate Ksh33.9 billion.
The bank has been listed on the Nairobi bourse since 1972 and is an affiliate of the Aga Khan Fund for Economic Development. Its parent firm DTB has over 120 branches across the East Africa region, spread through Kenya, Tanzania, Uganda and Burundi.
During the first quarter of the year, the bank had posted a Q1 pre-tax profit of Ksh2.9 billion which represented an 8% year on year rise.
At the time, the tier one bank had stated that it had “defied a tough operating environment to build customer deposits to Ksh 275 billion, while the asset base grew to Ksh 370 billion.”
For the Q1 financial results, DTB Kenya Managing Director Nasim Devji had said, “Year on year, the asset base for the Group continues to grow with total assets closing at Ksh 370 billion at the end of the first quarter of this year.”
In Q1, DTB’s non- performing loan book had declined marginally to Ksh 12.4 billion, from Ksh 13.2 billion a year earlier.
