Diamond Trust Bank (Uganda)

Diamond Trust Bank Uganda Limited (DTBUL), is a commercial bank headquartered in Uganda.[2] It is licensed and supervised by the Bank of Uganda, the central bank and national banking regulator.[3]0°18′47″N 32°35′1″E

Diamond Trust Bank (Uganda) Limited
TypePrivate
IndustryFinancial services
Founded1945 (1945)
HeadquartersDTB Centre, Plot 17/19, Kampala Road,
Kampala
,
Uganda
Key people
  • M.N.Thobani (Vice Chairman)
  • Varghese Thambi (CEO)
[1]
ProductsLoans, savings, checking, investments, debit cards, credit cards, mortgages
RevenueIncrease:Aftertax: UGX:18.168 billion (US$4.96million) (2018)[1]
Total assetsUGX:1.606 trillion (US$438.574 million) (2018)[1]
Websitedtbu.dtbafrica.com

Overview

As at December 2018, the bank's total assets were valued at about UGX:1.606 trillion (approximately US$438.574 million), with UGX:222.5 billion (approximately US$60.8 million) in shareholders' equity.[1] As of 31 December 2015, DTBUL was the seventh largest commercial bank in Uganda by assets, controlling about 4 percent of the assets in the banking industry.[4]

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, and branches in Mombasa, Kenya and Kampala, Uganda. Branches were later opened at Nairobi and Kisumu in Kenya. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African Ismaili Community and the mobilization of their savings. In 1965, DJIT was split into three entities, one each in Kenya, Tanzania, and Uganda.[5]

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. Between 1972 and the early 1990s, DTU was largely moribund because of political instability.[5]

In 1995, the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development and Diamond Trust Bank (Kenya) Limited. In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited.[5]

Diamond Trust Bank Group

DTBU is a member of the Diamond Trust Bank Group, a large financial services provider with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.[6][7]

Ownership

Diamond Trust Bank (Kenya) Limited owns at least 56.97 percent of the shares in Diamond Trust Bank (Uganda) Limited.[8]

See also

References
  1. Diamond Trust Bank Uganda (9 April 2019). "Diamond Trust Bank Uganda Limited: Extract of the Financial Statements for the year ended 31 December 2018" (PDF). Kampala: Diamond Trust Bank Uganda Limited. Retrieved 22 July 2019.
  2. Diamond Trust Bank Uganda (2 June 2018). "The Headquarters of Diamond Trust Bank Uganda Limited". Kampala. Retrieved 2 June 2018.
  3. Bank of Uganda (31 March 2016). "Bank of Uganda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Archived from the original (PDF) on 12 October 2016. Retrieved 2 June 2018.
  4. Naibuzz.com (20 May 2016). "The 8 Biggest Banks In Uganda". Nairobi: Naibuzz.com. Retrieved 2 June 2018.
  5. Diamond Trust Bank (27 August 2016). "History of Diamond Trust Bank (Uganda) Limited". Kampala: Diamond Trust Bank. Retrieved 27 August 2016.
  6. Vision Reporter (22 August 2007). "60 Year Old Diamond Trust Bank Rebrands". New Vision. Archived from the original on 3 May 2014. Retrieved 3 May 2014.
  7. New Times Reporter (14 August 2009). "Kenya's Diamond Trust Bank To Extend To Rwanda". The New Times (Rwanda). Retrieved 3 May 2014.
  8. Juma, Victor (5 May 2016). "DTB raises stake in Uganda unit with $10.9 million injection". The EastAfrican. Nairobi. Retrieved 27 August 2016.
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