DTB net profit hits Sh6.5bn on loans, transactions income
DTB chief executive Nasim Devji. The bank has also proposed the issuance of bonus shares at a rate of one share for every ten held. PHOTO | FILE
Diamond Trust Bank (DTB) has posted a 15.6 per cent growth in net profit for the year ended December, helped by higher income from lending and transaction charges.
The lender’s net profit in the period stood at Sh6.5 billion, up from Sh5.7 billion the year before. DTB declared a dividend of Sh2.5 per share, an increase from the previous Sh2.4 per share.
The bank has also proposed the issuance of bonus shares at a rate of one share for every ten held.
The new shares will not qualify for the dividend, which is expected to be paid on June 12.
“Such new shares will rank pari passu in all respects with the existing shares in the capital of the bank except for the aforementioned dividends and any further dividend paid prior to the bonus issue,” the company said in a statement.
The bank will issue 24.2 million new shares based on the current outstanding shares of 242.1 million shares. DTB’s interest income rose 24.1 per cent to Sh25.8 billion as the loan book expanded 28.9 per cent to Sh177.5 billion.
Other income, including fees on transactions, increased 24.4 per cent to Sh4.7 billion.
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