The Diamond Trust Bank Group, or DTB Group for short, is an African banking group active in Burundi, Kenya, Tanzania and Uganda. The group's flagship company, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and national banking regulator for Kenya, the largest economy in the East African Community.

Location

The main office of the DTB Group is located at the Diamond Trust Bank Centre (DTBC) along Mombasa Road in Nairobi, Kenya.

Overview

The flagship of the DTB Group is Diamond Trust Bank (Kenya), which was established in 1946. As of December 2013, the group was ranked 8th among the 43 licensed banks in Kenya in terms of assets. At that time, the group's total assets were approximately $1.924 billion (KES: 166.52 billion) and shareholders' equity was approximately $242.10 million (KES: 20.95 billion). Ranked 5th as of 2018.

The group worked with Habib Bank of Aga Khan Fund for Economic Development and International Finance Corporation of the World Bank. In July 2017, Diamond Trust Banking Group acquired 100% ownership of the former "Habib Bank of Kenya". The new acquisition was merged with Diamond Trust Bank of Kenya with effect from August 1, 2017. As part of the new acquisition, DTB Group has agreed to retain 41 former Habib Bank employees.

Member Companies

The DTB Group includes the following companies:

Subsidiary

1. Diamond Trust Bank (Kenya) Limited - Retail Banking - 100% Shareholding in Nairobi, Kenya - Commercial Bank in Kenya, serving individuals and businesses. This is the flagship company of the group, representing 6.4% of Bank assets in Kenya as of December 2016.
2. Diamond Trust Bank (Uganda) Limited - Retail Banking - Kampala, Uganda 54.1% Shareholding - A commercial bank in Uganda serving individuals and businesses.
3. Diamond Trust Bank (Tanzania) Limited - Retail Banking - Dar es Salaam, Tanzania 62.9% Shareholding - A commercial bank in Tanzania serving individuals and businesses.
4. Diamond Trust Bank (Burundi) Limited - Retail Banking - Bujumbura, Burundi 67.3% Shareholding - A commercial bank in Bujumbura, serving individuals and businesses.
5. Diamond Trust Insurance Agency Limited - Bancassurance - Nairobi, Kenya 100% Shareholding - This unit provides bancassurance services.
6. Diamond Trust Bank (Rwanda) Limited - Retail Banking - Kigali, Rwanda - Under development.
7. Premier Savings and Finance Limited - dormant - 100% stake in Nairobi, Kenya.

Group of Companies Linked

• Jubilee Insurance Company Burundi - Insurance - Bujumbura, Burundi - 20% stake - an insurance company in Burundi. Member of Jubilee Insurance Company Limited. Jubilee Insurance, which shares common shares with Diamond Trust Bank (i.e. AKFED), holds 80% of the joint venture.
• Services and Systems Limited - (dormant) - Nairobi, Kenya - 40% stake.

Ownership

Shares in Diamond Trust Banking Group are listed on the Nairobi Stock Exchange. As of July 2017, the Group's major shareholders, as shown in the following table:

Row Owner Name Ownership Percentage 1 Aga Khan Economic Development Fund (AKFED) 16.50 2 HBL Pakistan is part of AKFED 16.15 3 Kenya Silver Jubilee Insurance Company , Part of AKFED 9.95 4 Standard Chartered A/C Ke18972 2.78 5 Standard Chartered Agent A/C Ke18965 2.23 6 The Diamond Jubilee Investment Trust (U) Limited, a subsidiary of AKFED 1.37 7 Others through the Nairobi Stock Exchange 51.02 Total 100.00

Criminal summons in Uganda

In September 2021, senior executives of the DTB Group, including Aga Khan, Group CEO Nasim Devji Mohamed, DTB Uganda Managing Director Varghese Thambi, and DTB Uganda Credit Director John Sitakange, were summoned in Uganda by the Buganda Road District Court to refute the following allegations: theft, electronic fraud , Falsifying entries in the financial ledger, misusing computers, issuing false documents and conspiracy to contravene regulations; Section 254 of the Penal Code, Chapter 120, Section 47 (1) and (3) of the Financial Institution Group Act 2004, Section 19 of the Computer Misuse Act, Section 351 of the Penal Code, No. 120 of the Constitution of Uganda, and Section 360 of the Penal Code, No. 120, after the bank was convicted of fraud in the 2020 High Court in Civil Action No. 43 of 2020 brought against the bank by Hamis Kiggundu for defrauding more than $30 million from his bank account.

Branch Network

As of August 2014, DTB Group had a total of nearly 100 branches in the East African countries where it operates. In May 2012, coverage in Kenya revealed that the group planned to expand to Rwanda, Democratic Republic of Congo, Mozambique and South Sudan by 2020