Diamond Trust Bank (DTB) recorded a 12 percent net profit increase to Kes 4.9 billion in the half-year ended June 2024, attributed to  Tanzania, Uganda, and Burundi subsidiaries that contributed 35 percent of pretax profits, up from 23 percent.

DTB Group Chief Executive Officer and Managing Director Nasim Devji said the improved performance reflects the group’s inherent resilience and diversity, reflected in its growing presence in markets outside Kenya.

DTB Finance & Strategy Director Alkarim Jiwa said the Group’s total assets grew to Kes 585 billion, up from Kes 579 billion recorded in the review period.

Similarly, operating income increased by 10 percent to Kes 20.6 billion, while pretax profits grew to Kes 6.3 billion.

Moreover, net interest income improved to Kes 14.2 billion, up from Kes 13.1 billion earned in the first half of 2023, attributed to better interest margins and non-interest income revenues.

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“The operating expenses increased to Kes 10.6 billion, up from Kes 9.4 billion, due to significant investments made in building robust digital platforms, expanding branch footprint and talent to support the delivery of the business growth strategy,” Jiwa added.