Diamond Trust Bank Group reports a KSh7.64B ($59.2M) profit in 2024 and raises dividend to KSh7 per share. Explore DTB’s growth strategy across East Africa.
DTB Group Reports KSh7.64B ($59.2M) Net Profit, Raises Dividend
Diamond Trust Bank (DTB) Group has announced a net profit of KSh7.64 billion (approximately $59.2 million) for the financial year ending December 31, 2024. This marks an 11% increase from 2023 and reflects the bank’s resilience in a challenging economic environment.
In light of the strong performance, DTB’s Board of Directors has declared a final dividend of KSh7 per share ($0.054), amounting to a total payout of KSh1.96 billion ($15.2 million). The financial results were officially released on March 26, 2025.
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📊 Financial Highlights: Steady Growth and Efficiency
DTB’s 2024 results underscore strong earnings momentum, improved credit quality, and operational efficiency:
- Net Interest Income: KSh28.39 billion (~$220 million)
- Non-Interest Income: KSh13.04 billion (~$101 million)
- Operating Expenses: KSh30.16 billion (~$234 million)
- Loan Loss Provisions: Fell by 15.5% to KSh8.7 billion (~$67.4 million)
- Staff Costs: Rose to KSh9.82 billion (~$76.1 million) due to hiring and salary adjustments
These figures reflect disciplined cost controls, ongoing workforce investment, and a focus on credit risk reduction.
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📌 See: DTB’s Approach to Risk and Provisioning
🌍 Regional Strategy: Focus on Sustainable Expansion
DTB’s loan book declined slightly to KSh285.29 billion (~$2.21 billion), partly due to foreign exchange losses on dollar-denominated loans. However, the group remains committed to long-term expansion.
Strategic growth initiatives include:
- Opening new branches in Kenya and across East Africa
- Enhancing customer service through digitization
- Strengthening its position in the SME and retail banking segments
“The increased dividend reflects our confidence in the group’s future performance and our commitment to value creation for shareholders,” said a DTB spokesperson.
📌 Read: How DTB Is Supporting SME Growth in Kenya
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📈 A Signal to Both Local and Global Investors
DTB’s solid financial results and growing regional footprint send a positive signal to both domestic and international investors. The dividend increase offers strong returns in a high-inflation local market, while the profit growth reflects East Africa’s banking sector strength.
With continued investments in technology, customer service, and regional presence, DTB is positioning itself for long-term competitiveness in a continent seeing rapid financial inclusion and digital transformation.
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