On the sidelines of the just-ended Annual Bankers Conference, CEO East Africa Magazine’s Paul Murungi caught up with Godfrey Sebaana, CEO of Diamond Trust Bank Uganda, for a quick dipstick on the bank’s performance and the state of the industry. In this brief but insightful exchange, Sebaana reflects on DTB’s growing balance sheet, healthy capital ratios, and strategic alignment with government-led growth sectors. He also shares the bank’s ambitions in the USD 1.4 billion remittance market, the opportunities of a well-capitalised industry now able to finance large-scale contracts locally, and the one thing about DTB that keeps him awake at…
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Godfrey, DTB Uganda has often been described as a bank built on stability, strong capital, and purposeful growth. Can you walk us through how the bank has navigated 2024 in…
Diamond Trust Bank Uganda Limited (DTB Uganda) reported a mixed financial performance for the year ended December 31, 2024, marking a significant inflexion point in its decade-plus-long growth story. After more than ten years of uninterrupted growth, the bank’s key performance metrics dipped in 2024, coinciding with the leadership transition that saw Godfrey Sebaana take office as the new Managing Director and CEO in April 2024. Customer Deposits: A Sharp Reversal from a Decade of Steady Growth DTB Uganda’s customer deposits declined by 5.1% to UGX 2.094 trillion in 2024, down from UGX 2.207 trillion in 2023. This marks the…
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Diamond Trust Bank Uganda has today released its annual performance results for 2023 reporting a steady double-digit growth across all major metrics such as deposits, customer lending and income, as well as net profit and total assets. The bank reported that in 2023, customer deposits grew by UGX331.1 billion or 17.7%, from UGX1876 billion, crossing the UGX2 trillion mark, to UGX2.207 trillion at the end of 2023. With a sizeable deposit growth, DTB in the year increased its lending by 10.7% or UGX84.8 billion, from UGX791 billion to UGX876 billion. Growth in lending largely contributed to a 24.2% growth in…
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The Board of Directors of Diamond Trust Bank Uganda Limited (DTBU) has named Godfrey Sebaana, a seasoned banker with over twenty years of experience, as its new Chief Executive Officer and Managing Director. The appointment is effective April 2nd, 2024. Mr. Sebaana succeeds Mr. Varghese Thambi, who has driven the Bank’s transformation and growth since July 2007, and is retiring from the Bank at the end of March 2024 but will remain available for a time afterwards to ensure a smooth transition. Commenting on Mr. Sebaana’s appointment, Mr. Azim Kassam, the DTBU Board Chairman, said that the Bank is looking…
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In yet another legal gimmick, largely perceived to be a delay tactic, to buy him time, against the inevitable, businessman Hamis Kiggundu (Ham) has applied to the Constitutional Court, seeking to overturn, a 6th June 2023 Supreme Court ruling that foiled the businessman’s attempts to avoid repaying billions that he borrowed from Diamond Trust Bank (U) Ltd (DTB-U) and Diamond Trust Bank (K) Ltd (DTB-K). In a 07th of July 2023 application to the Constitutional Court, Ham, together with his two companies, Ham Enterprises Ltd and Kiggs International (U) Ltd, have dragged the two banks and the Attorney General to…
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Esteemed Customers, Over the years, DTB has prided itself as a contributor to the financial well-being of our customers by offering them unmatched services and innovative solutions, anchored on convenience, agility in response and ease of access. The year 2022 was pivotal for DTB. It was also an inflection year for us, with the conceptualisation of our business growth strategy ushering in an exciting new phase in our journey towards achieving socioeconomic relevance. Underpinning the strategy is our over-arching objective, which is to contribute to Uganda’s social and economic growth in a meaningful, impactful, and sustainable way. This is by…
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Diamond Trust Bank Uganda, the Ugandan subsidiary of the Kenya-headquartered Diamond Trust Bank Group has released its 2022 financials reporting double-digit growth in deposits, lending, income, profits and assets. According to results made public last, DTB Uganda reported a 25% growth in deposits from UGX1.5 trillion in 2021 to UGX1.88 trillion⏤ an increase of UGX375.6 billion. The bank also reported that it extended 15.8% more credit than it did in 2021, extending some UGX791.3 billion in loans, to retail, SME and corporate clients, up from UGX 683.4 billion in 2021. Growth in lending fuelled a 14.9% growth in income from…
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DTB Uganda, one of Uganda’s largest banks, has opened its 36th branch at the Kapeeka Liao Shen Industrial Park, with a promise to continue easing access to convenient banking, necessary for Uganda’s development. The branch was officially commissioned on January 12th 2023 at a function presided over by the Chief Coordinator of the Government of Uganda’s Operation Wealth Creation (OWC), General Caleb Akandwanaho and Mr. Hannington Wasswa, the Bank of Uganda Ag. Executive Director Supervision. “Today is a great day. As the people of Kapeeka now have a listening bank at their doorstep to serve and support them in developing…
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As such, during the entire lifetime of a case- the accuser, also known as the plaintiff, dedicates huge amounts of effort, time and resources to prove their case, while the defendant or the accused, equally dedicates a lot of time trying to poke holes in the alleged evidence being presented by the court, to prove themselves innocent. But the case of businessman Hamis Kiggundu against two banks—Diamond Trust Bank Uganda (DTB Uganda) and Diamond Trust Bank Kenya (DTB Kenya) has defied all common sense. It is one of those rare occurrences, where the accuser has instead fought so hard to…
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