DTB(Diamond Trust Bank) Group has recorded an 8.4% increase in Profit After Tax (PAT) of KSh 8.37 Billion over the first nine months of 2024, from KSh 7.44 Bn over a similar period in 2024. The regional lender with subsidiaries in Uganda and Tanzania, saw its Total Customer Deposits grow 15.5% to KSh 510.3 Billion while its Balance Sheet size grew 8.7% to KSh 641.8 Billion.
DTB recently announced its exit from Burundi after being in that market for close to 16 years. Directors of the Group disclosed that it is concentrating on enlarging its footprint in the two other markets as well as in Kenya. The latest branch expansion by DTB in Kenya is in Kitui County.
DTB also saw its Net Interest Income grow at 17.9% to KSh 25.13 Billion, driven a by strong loan book growth & lower interest expenses.
The lender’s Non‑Interest Income was, however, down 5.9% to KSh 9.14 Billion while Operating Income rose 10.5% to KSh 34.28 Billion. Operating Expenses rose 9.5% to KSh 23.07 Billion. In response to a tight lending environment, the lender increased its provisions for loan loss to KSh 5.67 Bn, up 7.6%.
DTB posted a Profit Before Tax (PBT) of KSh 11.22 Bn, up 14.4%.
DTB Share Price Performance at the NSE
DTB is currently trading at KSh 116 per share at the Nairobi Securities Exchange(NSE) and has gained 68.1% since the year begun. The bank has a dividend yield of 6.09% with a payout ratio of 25.61%. Investment watchers predict a positive outlook for the stock, citing strong financials and growth potential.
The lender’s Loan Book grew in Net loans & advances to KSh 296.40 Billion, up 7.8% an indication of its healthy core lending growth.
Customer deposits grew 15.5% to KSh 510.26 Billion, giving the lender a solid funding base.
Shareholders’ funds grew to KSh 99.45 Billion, an increase of 34.1%, reflecting boosted capital & investor confidence. Gross NPLs were up slightly by 4.5% to KSh 40.89 Billion, a modest rise in non‑performing loans while Earnings per Share (EPS), an indicator of its profitability was up to KSh 26.72, a 14.8% improvement.
According to analysts, DTB growth has been fuelled by solid growth in net interest income, PAT, deposits & equity. While Non‑interest income slipped, overall operating income jumped.
The lender’s digital‑transformation & regional push in Tanzania, Uganda, Burundi are among the compelling factors that are fuelling its expansion. DTB Asset quality has remained within manageable levels with a small NPL increase.
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DTB Expands Branch Footprint to 161, With Newest in Kitui Town
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