Diamond Trust Bank Uganda Limited (DTBUL), is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

headquartered in

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 ...

. It is licensed and supervised by the

Bank of Uganda The Bank of Uganda () is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department. History In 1979 and again in 1987, the Bank of Uganda managed to ma ...

, 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.

Overview

As at December 2022, the bank's total assets were valued at about UGX:2.42 trillion (approximately US$623.467 million), with UGX:250 billion (approx. US$65 million) in shareholders' equity. As of 31 December 2022, DTBUL was the seventh largest commercial bank in Uganda by deposits. It was also the 8th largest commercial bank in the country, by assets. At that time it serviced an estimated 160,000 bank clients.

History

The bank dates to 1945, when it was operating as the Diamond Jubilee Investment Trust (DJIT), with its head office in

Dar es Salaam, Tanzania 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 ...

, and branches in

Mombasa, Kenya Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of British East Africa, before Nairobi was elevated to capital status in 1907. It now serves as the capital of Mombasa County. The town is ...

and

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 ...

, Uganda. Branches were later opened at

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 ...

and

Kisumu Kisumu ( ) is the third-largest city in Kenya located in the Lake Victoria area in the former Nyanza Province. It is the second-largest city after Kampala in the Lake Victoria Basin. The city has a population of slightly over 600,000. The ...

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. ...

. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African

Ismaili Ismailism () is a branch of Shia Islam. The Isma'ili () get their name from their acceptance of Imam Isma'il ibn Jafar as the appointed spiritual successor ( imām) to Ja'far al-Sadiq, wherein they differ from the Twelver Shia, who accept ...

Community and the mobilization of their savings. In 1965, DJIT was split into three entities, one each in Kenya,

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. In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited. In 1972, Diamond Trust (Uganda) Limited (DTU) commenced operations as a

non-bank financial institution A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank; it does not have a full banking license or is not supervised by a national or international banking regulator ...

. Between 1972 and the early 1990s, DTU was largely moribund because of political instability. In 1995, the institution was recapitalized with the participation 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 Diamond Trust Bank (Kenya) Limited. In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited.

Diamond Trust Bank Group

DTBU is a member of the

Diamond Trust Bank Group Diamond Trust Bank Group, in short DTB Group, is an African banking group active in Burundi, Kenya, Tanzania, and Uganda. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and ...

, a large financial services provider with operations 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,

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 ...

, Tanzania, and Uganda.

Ownership

Diamond Trust Bank (Kenya) Limited owns at least 56.97 percent of the shares in Diamond Trust Bank (Uganda) Limited.

References

External links