Diamond Trust Bank Group, in short DTB Group, is an African banking group active 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 ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

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 }), 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 ...

. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the

Central Bank of Kenya The Central Bank of Kenya (CBK) ( sw, Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge ...

, 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 in Kenya, the largest economy in the

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burundi, ...

Location

DTB Group's main offices are located at Diamond Trust Bank Centre (DTBC), along Mombasa Road in

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 ...

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

Overview

The flagship of DTB Group is Diamond Trust Bank (Kenya), which was founded in 1946. , the group is ranked the eighth largest commercial bank, by assets, out of 43 licensed banks in Kenya. At that time, the group's total assets were approximately US$1.924 billion (KES:166.52 billion), with shareholders' equity of about US$242.1 million (KES:20.95 billion). As of 2018, it ranked 5th. The group works in collaboration with the Habib Bank 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 the

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

of the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

. In July 2017, the Diamond Trust Bank Group acquired 100% ownership of the former "Habib Bank Kenya". The new acquisition merged with Diamond Trust Bank Kenya, effective 1 August 2017. As part of the new acquisition, DTB Group has agreed to retain 41 former Habib Bank employees.

Member companies

DTB Group includes the following companies:

Subsidiaries

#Diamond Trust Bank (Kenya) Limited -

Retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...

- Nairobi, Kenya 100% Shareholding - A commercial bank in Kenya, serving individuals and businesses. This is the flagship company of the group, accounting for 6.4% of banking assets in Kenya, as at December 2016. #

Diamond Trust Bank (Uganda) Limited Diamond Trust Bank Uganda Limited (DTBUL), is a commercial bank headquartered in Uganda. It is licensed and supervised by the Bank of Uganda, the central bank and national banking regulator. Overview As at December 2018, the bank's total assets ...

- Retail banking -

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 ...

54.1% Shareholding - A commercial bank in Uganda, serving both individuals and businesses. #

Diamond Trust Bank (Tanzania) Limited Diamond Trust Bank Tanzania Plc (DTBT) is a commercial bank in Tanzania, licensed by the Bank of Tanzania. Overview Diamond Trust Bank Tanzania PLC is a large financial services provider in Tanzania, with total assets valued at TSh 1,405&nbs ...

- Retail banking -

Dar es Salaam 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 ...

62.9% Shareholding - A commercial bank in Tanzania, serving both individuals and businesses. #Diamond Trust Bank (Burundi) Limited - Retail banking -

Bujumbura Bujumbura (; ), formerly Usumbura, is the economic capital, largest city and main port of Burundi. It ships most of the country's chief export, coffee, as well as cotton and tin ore. Bujumbura was formerly the country's normal capital. In late ...

67.3% Shareholding - A commercial bank in Bujumbura, serving individuals and businesses. #Diamond Trust Insurance Agency Limited -

Bancassurance Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank's customers. In this partnership, bank staff and tellers become the point of sale and point of ...

- Nairobi, Kenya 100% Shareholding - This unit offers Bancassurance services. #Diamond Trust Bank (Rwanda) Limited - Retail banking -

Kigali Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwa ...

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 ...

- In development. #Premier Savings and Finance Limited - Dormant - Nairobi, Kenya 100% Shareholding.

Associates companies to the group

* Jubilee Insurance Company of Burundi -

Insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

- Bujumbura, Burundi - 20% Shareholding - An insurance company in Burundi. A member of

Jubilee Insurance Company Limited The Jubilee Insurance Company of Kenya (JICK), mostly known as Jubilee Insurance, is an insurance company in Kenya, which has the largest economy in the East African Community. It is a wholly owned subsidiary of Jubilee Holdings Limited, a mul ...

. Jubilee Insurance which shares a common shareholder with Diamond Trust Bank (i.e.

AKFED 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. It ...

) holds 80 percent of the venture. * Services and Systems Limited - Dormant - Nairobi, Kenya - 40 percent Shareholding.

Ownership

The shares of the Diamond Trust Bank Group are listed on the

Nairobi Stock Exchange The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in ...

. , the major shareholders in the Group's

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

, are depicted in the table below:

Criminal Summons In Uganda

In September 2021, DTB Group Top Management including the

Aga Khan Aga Khan ( fa, آقاخان, ar, آغا خان; also transliterated as ''Aqa Khan'' and ''Agha Khan'') is a title held by the Imām of the Nizari Ismāʿīli Shias. Since 1957, the holder of the title has been the 49th Imām, Prince Shah Karim ...

, Nasim Devji Mohamed,the group Chief Executive Officer, Varghese Thambi the DTB Uganda Managing Director and John Sitakange the head of credit for DTB Uganda were summoned in Uganda by the Buganda Road Magistrates Court to retort charges of ''theft, electronic fraud, making fabricated entries in financial ledgers, computer misuse, emitting false documents and conspiracy to commit crime'' in contravention of; ''section 254 of the Penal Code Act Cap 120, section 47 (1) and (3) of the financial Institutions Act of 2004, section 19 of the computer misuse Act, section 351 of the Penal Code Act 120 and section 360 of Penal Code Act 120'' of the

Constitution A constitution is the aggregate of fundamental principles or established precedents that constitute the legal basis of a polity, organisation or other type of Legal entity, entity and commonly determine how that entity is to be governed. When ...

of Uganda following the Bank's Conviction of fraud by the High Court in Uganda in a civil suite 43 of 2020 filed by Hamis Kiggundu after the bank had defrauded over $30Million from his bank accounts.

Branch network

DTB Group maintains a total of nearly 100 branches in the

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*) territories make up Eastern Africa: Due to the historical ...

n countries where it operates. In May 2012, Kenyan press reports indicated that the group planned expansion into

, the

Democratic Republic of the Congo The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...

Mozambique Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...

and

South Sudan South Sudan (; din, Paguot Thudän), officially the Republic of South Sudan ( din, Paankɔc Cuëny Thudän), is a landlocked country in East Africa. It is bordered by Ethiopia, Sudan, Central African Republic, Democratic Republic of the C ...

by 2020.

References

External links

Diamond Trust Bank Tanzania Records US$7.5 Million Pre-Tax Profit

Diamond Trust Bank Kenya official site

Diamond Trust Bank Uganda official site

{{Banking in Kenya Banks of Kenya Aga Khan Development Network Companies based in Nairobi Banks established in 1946 Kenyan companies established in 1946