DTB resumes dividend payout after posting a Ksh.3.9 billion profit

DTB resumes dividend payout after posting a Ksh.3.9 billion profit

Diamond Trust Bank posted a Ksh.3.9 billion profit for the full year ended December 31, 2021, compared to Ksh.3.2 billion made a year before.

This has seen the bank announce the resumption of dividend payout.

DTB’s board has recommended a Ksh.3 per dividend per share for a combined shareholder payment of Ksh.838.8 million.

DTB Chairman Linus Gitahi said shareholder payouts will rise in the future as the bank works out a balance between rewarding shareholders and capital conservation.

“We anticipate that the dividend pay-outs will progressively increase in the years ahead as we continue to realize our aspirations to pivot DTB as a customer-centric, top-tier, digitally-driven bank,” said Gitahi.

Growth in profit has been attributed to the lender’s 10.5 per cent growth in net interest income to Ksh.20 billion from Ksh.18.1 billion.

The bank also posted a 3.3 per cent growth in non-interest funded income (NFI) to Ksh.6.3 billion.

DTB says it is targeting to open 20 new branches in Kenya this year with plans to top 200 branches in East Africa in the next two years.

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