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.