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Diamond Trust Bank profit go up

The deposit base grew by 22 per cent from 221bn/- in 2010 to 269bn/- over the corresponding period ending December 2011. 
The loans and advances portfolio of the bank also went up by 30 per cent, to reach 193bn/-.  The asset base increased by 19 per cent to 322bn/-, up from 270bn/- in 2010.

Announcing the annual results in Dar es Salaam over the weekend, the Chairman of DTB Board of Directors, Mr Abdul Samji, said the bank has turned in an exemplary year of performance in 2011 despite the adverse macroeconomic environment that set in at the end of the year.
 
"With the pre- tax profit crossing the  10bn/- mark for the first time, the bank marked an important milestone as we strive to achieve our long term vision of emerging as a significant banking player in Tanzania," Mr Samji said.

He emphasized that DTB Tanzania would continue on its growth strategy and expanding its branch network with the aim of covering all major commercial centres in Tanzania over the medium term.

Mr Samji said: "The successful opening of our first branch in Mbeya is of immense encouragement for our ambitious branch expansion initiative. "The success achieved by the bank last year is a re-affirmation of the twin pronged long term strategy of building a robust liability franchise and practicing a strong credit culture."

Following the announcement of results, the DTB board of directors has recommended a dividend of 40/- per share compared to 35/- paid last year.


THE importation of motorcycles and rickshaws has helped ...

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Author: DAILY NEWS Reporter

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