Godfrey Sebaana, the incoming Chief Executive Officer of Diamond Trust Bank Uganda (DTBU) has committed to building on the foundation left by his predecessor, Varghese Thambi to create an even more enhanced, reliable and always-on customer experience. Speaking at a dinner hosted by the bank on May 21st 2024 to bid farewell to Thambi who has been the bank’s Chief Executive for the last 17 years, since July 2007, Mr. Sebaana said that he has already received board approvals for the planned enhancements, so customers should expect more customised products and services and a service experience that seeks to “break…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
It all started with a call from a recruitment agency executive. At the time, Thambi had spent 30 years in the banking industry, rising to become a Senior Vice President and Head of Retail Banking at India’s IndusInd Bank, based in Mumbai, Maharashtra. In that role, he oversaw more than 300 branches and was No.4 in the bank’s overall order of command. He had risen from a teller job that he started on November 19, 1976, with manual banking ledgers and had risen to become a branch manager at Dhanlaxmi Bank in Hyderabad, India before crossing over to IndusInd Bank…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Members of the Uganda Bankers’ Association (UBA) held their Annual General Meeting on the 13th of May 2022 and elected Sarah Arapta, as the new Chairperson of the association’s Executive Committee. Arapta, the Chief Executive Officer of Citibank Uganda, takes over from Mathias Katamba, the Managing Director of dfcu Bank, whose two-year term (2020 and 2021) has elapsed. Arapta has been Katamba’s deputy on the outgoing committee which also included Varghese Thambi, the Chief Executive Officer of Diamond Trust Bank as the treasurer as well as Sam Ntulume the Executive Director, of I&M Bank Uganda as the Auditor. Albert Saltson,…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Yes, they are all men. They are powerful. They run 8 of Uganda’s largest banks and they are paid handsomely too. The 8 CEOs are each paid on average a…
