DTB net profit up 2% to KSh 7 billion

Diamond Trust Bank (DTB) Kenya after-tax profit grew slightly by per cent to reach KSh7.1 billion from KSh6.9 billion earned in 2017. Operating profit moved up 9 per cent to KSh10.97 billion mainly supported by interest income from government securities.

The lender managed to cut down its operating expenses by 3 percent to KSh14.5 billion from KSh14.9 billion charged in 2017.

DTB’s interest income went up by 2 per cent to KSh35 billion largely driven by income from government bonds which rose by 11 per cent. Non-interest income grew by 3 per cent to Ksh5.4 billion supported by fees and commissions on loans and advances.

The bank’s share of gross non-performing loans dropped by 8 percent to KSh13.6 billion compared to KSh14.8 billion recorded in 2017.

DTB’s directors recommend a KSh2.60 dividend per share for the year 2018 subject to investors’ approval.