Diamond Trust Bank Uganda Limited (DTBUL), is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

headquartered in

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

. It is licensed and supervised by the

Bank of Uganda The Bank of Uganda ( sw, Benki Kuu ya Uganda) is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department. History In 1979 and again in 1987, the Ba ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

and national banking regulator.

Overview

As at December 2018, the bank's total assets were valued at about UGX:1.606 trillion (approximately US$438.574 million), with UGX:222.5 billion (approximately US$60.8 million) in shareholders' equity. As of 31 December 2015, DTBUL was the seventh largest commercial bank in Uganda by assets, controlling about 4 percent of the assets in the banking industry.

History

The bank dates to 1945, when it was operating as the Diamond Jubilee Investment Trust (DJIT), with its head office in

Dar es Salaam, Tanzania Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over s ...

, and branches in

Mombasa, Kenya Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...

and

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

, Uganda. Branches were later opened at

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

and

Kisumu Kisumu ( ) is the List of cities and towns in Kenya by population, third-largest city in Kenya after the capital, Nairobi, and the coastal city of Mombasa (census 2019). It is the third-largest city after Kampala and Mwanza in the Lake Victor ...

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African

Ismaili Isma'ilism ( ar, الإسماعيلية, al-ʾIsmāʿīlīyah) is a branch or sub-sect of Shia Islam. The Isma'ili () get their name from their acceptance of Imam Isma'il ibn Jafar as the appointed spiritual successor (imām) to Ja'far al-Sa ...

Community and the mobilization of their savings. In 1965, DJIT was split into three entities, one each in Kenya,

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

, and Uganda. In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited. In 1972, Diamond Trust (Uganda) Limited (DTU) commenced operations as a

non-bank financial institution A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...

. Between 1972 and the early 1990s, DTU was largely moribund because of political instability. In 1995, the institution was recapitalized with the participation of the

Aga Khan Fund for Economic Development Aga Khan Fund for Economic Development SA is a Swiss for-profit entity and international development finance institution which invests in countries of East Africa, West Africa, Central Asia, and South Asia. It is based in Geneva, Switzerland. I ...

and Diamond Trust Bank (Kenya) Limited. In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited.

Diamond Trust Bank Group

DTBU is a member of the

Diamond Trust Bank Group Diamond Trust Bank Group, in short DTB Group, is an African banking group active in Burundi, Kenya, Tanzania, and Uganda. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and ...

, a large financial services provider with operations in

Burundi Burundi (, ), officially the Republic of Burundi ( rn, Repuburika y’Uburundi ; Swahili language, Swahili: ''Jamuhuri ya Burundi''; French language, French: ''République du Burundi'' ), is a landlocked country in the Great Rift Valley at the ...

, Kenya,

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

, Tanzania, and Uganda.

Ownership

Diamond Trust Bank (Kenya) Limited owns at least 56.97 percent of the shares in Diamond Trust Bank (Uganda) Limited.

References

External links