Diamond Trust Bank Group, in short DTB Group, is an African banking group active in

Burundi Burundi, officially the Republic of Burundi, is a landlocked country in East Africa. It is located in the Great Rift Valley at the junction between the African Great Lakes region and Southeast Africa, with a population of over 14 million peop ...

Kenya Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...

Tanzania Tanzania, officially the United Republic of Tanzania, is a country in East Africa within the African Great Lakes region. It is bordered by Uganda to the northwest; Kenya to the northeast; the Indian Ocean to the east; Mozambique and Malawi to t ...

, and

Uganda Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the ...

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

Central Bank of Kenya The Central Bank of Kenya (CBK) () 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. Kamau Thugge, CBS is the current Governor a ...

, the

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

and national banking regulator in Kenya, the largest economy in the

East African Community The East African Community (EAC) is an intergovernmental organisation in East Africa. The EAC's membership consists of eight states: Democratic Republic of the Congo, the Federal Republic of Somalia, the Republics of Burundi, Kenya, Rwanda, S ...

Location

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

Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...

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 headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...

of the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

. 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 - 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 2022, the bank's total assets ...

- Retail banking -

Kampala Kampala (, ) is the Capital city, capital and largest city of Uganda. The city proper has a population of 1,875,834 (2024) and is divided into the five political divisions of Kampala Central Division, Kampala, Kawempe Division, Kawempe, Makindy ...

54.1% Shareholding - A commercial bank in Uganda, serving both individuals and businesses. # Diamond Trust Bank (Tanzania) Limited - Retail banking -

Dar es Salaam Dar es Salaam (, ; from ) is the largest city and financial hub of Tanzania. It is also the capital of the Dar es Salaam Region. With a population of over 7 million people, Dar es Salaam is the largest city in East Africa by population and the ...

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 political capital. In la ...

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 o ...

- 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 is a relativ ...

Rwanda Rwanda, officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of East Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator, Rwanda is bordered by ...

- 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 protect ...

- 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 mu ...

. 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. I ...

) 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 Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

, are depicted in the table below:

Criminal Summons In Uganda

In September 2021, DTB Group Top Management including the

Aga Khan Aga Khan (; ; also transliterated as ''Aqa Khan'' and ''Agha Khan'') is a title held by the Imamate in Nizari doctrine, Imām of the Nizari Isma'ilism, Nizari Isma'ilism, Ismāʿīli Shia Islam, Shias. The current holder of the title is the ...

, 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, organization or other type of entity, and commonly determines how that entity is to be governed. When these pri ...

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, also known as Eastern Africa or the East of Africa, is a region at the eastern edge of the Africa, African continent, distinguished by its unique geographical, historical, and cultural landscape. Defined in varying scopes, the regi ...

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 (DRC), also known as the DR Congo, Congo-Kinshasa, or simply the Congo (the last ambiguously also referring to the neighbouring Republic of the Congo), is a country in Central Africa. By land area, it is t ...

Mozambique Mozambique, officially the Republic of Mozambique, is a country located in Southeast Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Eswatini and South Afr ...

and

South Sudan South Sudan (), officially the Republic of South Sudan, is a landlocked country in East Africa. It is bordered on the north by Sudan; on the east by Ethiopia; on the south by the Democratic Republic of the Congo, Uganda and Kenya; and on the ...

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 Companies in the NSE 20 Share Index