Diamond Trust Bank (DTB) has posted a net profit of KES 2.9 billion for the half-year ended 30 June, 2021. This represents a 16% increase from last results.
The increase in DTB’s profits has been attributed to an increase in operating income from investments and services. Customer deposits for the company increased from KES 280.4 billion in 2020 to KES 313.3 billion in 2021.
DTB also recorded an increase in Pre-Tax profits from KES 4.5 billion in 2020 to KES 4.9 billion in 2021. A further positive result was seen in the company’s balance sheet, which recorded an increase from KES 388.3 billion to KES 429.6 billion.
Despite these positive results, DTB posted a loss in its loan services, increasing from KES 6.2 billion to KES 8.7 billion. Such losses for two consecutive years could be attributed to the Coronavirus pandemic which has affected businesses worldwide.
Gross non-performing loans surged at the DTB from KES 17.1 billion to KES 22.2 billion in the half-year results.
The half-year financial report of DTB further indicates that the bank’s shareholders equity increased to 65.4 billion from KES 61 billion in the same period last year.
DTB is also available in Kenya, Tanzania, Uganda and Burundi.