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Commodities

DTB leads bank stocks charge at 13-month high

A customer at a Diamond Trust Bank (DTB) ATM machine.FILE PHOTO | SALATON NJAU | NMG
A customer at a Diamond Trust Bank (DTB) ATM machine.FILE PHOTO | SALATON NJAU | NMG  

Diamond Trust Bank’s (DTB) #ticker:DTK share closed at a 13-month high of Sh179 yesterday, extending a streak as the best performing bank stock at the Nairobi bourse this year.

DTB has gained 51.7 per cent since the turn of the year and is the leading lender in terms of share price gains at the Nairobi Securities Exchange (NSE) #ticker:NSE this year ahead of National Bank at 51.4 per cent and KCB at 36.5 per cent.

“DTB continued on its gaining streak maintaining its lead as the best performing bank year-to-date,” said Standard Investment Bank in a market report.

The share has been on the up since March, when the lender announced a takeover of tier-three Habib Bank in a share swap deal worth Sh1.8 billion.

DTB announced later in a shareholders circular that it targeted to complete the deal by the end of this week (on July 21).

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