CorporateFinance

DTB Q3 profit up 20% to Ksh.5.8 billion

Diamond Trust Bank’s (DTB) net profit surged by 20.8 percent to Ksh.5.8 billion in nine months to September 2022.

The bank reported a Ksh.4.8 billion net profit in similar period last year. Higher income in quarter three results added to its profit growth with positive revenues at 21.5 percent to Ksh.23.7 billion.

Non-interest Funded Income (NFI) grew to hit Ksh.6.9 billion largely from greater foreign exchange trading income while net interest income improved to Ksh.16.8 billion from Ksh.14.7 billion.

DTB’s total operating costs grew at the same rate as income to hit Ksh.14.7 billion from Ksh.12.2 billion.

Its loan book expanded by 18.5 percent to Ksh.243.7 billion while customer deposits have grown by 11.1 per cent to Ksh.359.7 billion.

With the expanded loan portfolio, its gross Non-performing loans (NPLs) surged by 28.4 percent in three quarters to Ksh.33 billion enforcing the higher cover.

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.
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