Kenya: Diamond Trust Bank’s net profit rises to 6pc in third quarter
Nairobi Securities Exchange (NSE)-listed lender, Diamond Trust Bank (DTB) has announced a 5.7 per cent increase in profit after tax for the nine months to September helped by higher interest income.
The financier has netted Sh4.05 billion net profit for the period up from Sh3.83 billion last year.
DTB’s net interest income grew to Sh9.45 billion up from Sh9.32 billion last year mainly driven by interest from government securities which rose from Sh6.85 billion to Sh7.74 billion.
Gross non-performing loans shot to 57.5 per cent to Sh22.96 billion up from Sh14.57 billion indicating borrowers are still struggling to repay their loans due to the prolonged effects of the Covid-19 pandemic.
At the same time, loan loss provisions rose from Sh1.77 billion to Sh1.78 billion recorded in the same period last year while customer deposits grew to Sh7.27 billion up from Sh6.72 billion.
DTB joins a number of lenders that have announced positive results for the nine-month period mainly driven by higher revenues from loan and government securities interest setting the stage for increased full-year earnings.
Related Posts
Leaders target financial resilience at NCBA breakfast 2026
Financial inclusion in Kenya has made significant strides, yet industry leaders gathered at the NCBA Financial Inclusion Breakfast…
By
Kenya Power posts KSh24.99bn as revenue climbs 8.6% in FY2026
Kenya Power and Lighting Company PLC (Kenya Power) has reported a 2.1% increase in profit after tax to…
Standard Bank Namibia, NAMCOL partner on employee value banking
The Namibia College of Open Learning (NAMCOL) and Standard Bank Namibia have strengthened their strategic partnership through a…
KNCCI, Sidian Bank to boost SME and MSME financing
The Kenya National Chamber of Commerce and Industry (KNCCI) has engaged Sidian Bank in high-level discussions to strengthen…
Gallery
