- DTB Tanzania net profit went down by 22.6 per cent during the year ending December 31 2018 compared to the previous period ending December 31 2017.
Dar es Salaam. Diamond Trust Bank Tanzania (DTB) has reported a drop in net profit of 22.6 per cent during the year ending December 31, 2018.
The bank’s audited statement shows that the net profit dropped to Sh15 billion last year from Sh20 billion that was recorded during the previous period ending December 31, 2017.
The statement further showed that the bank’s nonperforming loans (NPLs) increased compared to the previous period whereby 5.3 per cent of their gross loans were NPLs compared to the corresponding year when 4.3 per cent of gross loans were NPLs.
DTB Tanzania also registered a 10.7 per cent growth in customers deposits which rose from Sh908 billion at the end of September 2017 to Sh1.005 trillion during a similar period in 2018. The bank that has almost 30 branches across the country saw an increase in the number of employees to 527 in the year ending December 31, 2018 from 511 employees during the previous corresponding period.
DTB Tanzania is part of the Diamond Trust Bank Group, a pan-East African bank with over 130 branches across Tanzania, Kenya, Uganda and Burundi. The bank is an affiliate of the Aga Khan Fund for Economic Development , which is the economic development arm of the Aga Khan Development Network.