In Summary
  • Customer deposit grew by Sh76 billion in the first half of the year” JOSEPH MABUISI, DTB  Head of Finance and Administration

Dar es Salaam. The profit before tax for Diamond Trust Bank (T) Ltd (DTB) rose by 38 per cent during the first half of 2014, compared to a similar period in 2013, financial statements show.

The bank’s pre-tax operating income touched Sh10.3 billion in the first half of 2014 on the back of income accruals from lending and treasury activities, the bank’s head of Finance and Administration, Mr Joseph Mabusi said yesterday.

Asset size grew by Sh82 billion from Sh505 billion in December last year to Sh587 billion at the end of June, 2014.

“Customer deposit grew by Sh76 billion in the first half of the year from Sh400 billion in December, 2013 to Sh476 billion by June, 2014,” he said.

Announcing the bank’s results Mr Viju Cherian, the country manager and Chief Executive Officer (CEO) said: “2014 is promising to be another good year for DTB, with notable growth achieved across all important balance sheet parameters”.

Forex trading income rose by 44 per cent while net interest income increased by 30 per cent. According to Mr Cherian, DTB’s underlying growth benefited from an expanding customer base driven by superior product and service offering, a steady branch network extension and commitment to exemplary customer service.

He said his bank would continue to focus on its branch expansion programme in the country, with two additional branches slated for opening in Mtwara and Mwanza before the end of the year.