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Diamond Trust Bank (Uganda) Limited

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Diamond Trust Bank (Uganda) Limited

Diamond Trust Bank (Uganda) Limited
Type Private
Industry Financial Services
Founded 1945
Headquarters Kampala, Uganda
Key people Mahmood P. Manji
Chairman
Varghese Thambi
Managing Director & CEO
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax: US$3.7 million (UGX:9.04 billion) (2011)[1]
Total assets US$134 million (UGX:328 billion) (2011)
Website Homepage

Diamond Trust Bank (Uganda) Limited is a commercial bank in Uganda.

Overwiew

As of November 2011, the bank was a fast-growing, medium-sized, banking institution, providing commercial banking services to individuals, small and medium enterprises (SMEs) and large corporations. As of December 2011, the total asset valuation of the bank was in excess of US$134 million (UGX:328 billion), representing approximately 3% of banking assets in Uganda at that time.[2] Shareholders' equity in December 2010 was valued at US$10.3 million (UGX:24.8 billion).[3]

History

The history of Diamond Trust Bank (Uganda) Limited dates back to 1945, when it was operating as the Diamond Jubilee Investment Trust, with its head office in Dar es Salaam, Tanzania, and branches in Mombasa, Kenya and Kampala, Uganda. Branches were later opened at Nairobi and Kisumu in Kenya. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African Ismaili Community; and the mobilization of their savings. In 1965, Diamond Jubilee Investment Trust was decentralized, and split into three entities, one each in Kenya, Tanzania and Uganda.

In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited (DTPU). In 1972 Diamond Trust (Uganda) Limited (DTU) commenced operations as a non-bank financial institution. Between 1972 and the early 1990s, DTU was largely moribund due to the prevalent political instability.

In 1995 the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development (AKFED) and Diamond Trust Bank (Kenya) Limited (DTBK). In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited (DTBU).[4]

Diamond Trust Bank Group

DTBU is a member of the Diamond Trust Bank Group, a large financial services provider in East Africa, with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.[5][6] Members of this group include:

  • Diamond Trust Bank (Burundi) Limited
  • Diamond Trust Bank (Kenya) Limited
  • Diamond Trust Bank (Rwanda) Limited
  • Diamond Trust Bank (Tanzania) Limited
  • Diamond Trust Bank (Uganda) Limited

Ownership

Diamond Trust Bank (Kenya) Limited owns 51% shares in Diamond Trust Bank (Uganda) Limited. [7] The remaining 49% is owned by the Aga Khan Fund for Economic Development (AKFED).

Diamond Trust Bank (Uganda) Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Diamond Trust Bank (Kenya) Limited 51.0
2 Aga Khan Fund for Economic Development 49.0
Total 100.0

Board of directors

Diamond Trust Bank (Uganda) Limited is governed by a seven-person Board of Directors. Mahmood P. Manji, one of the non-Executive Directors is the Chairman of the Board.

Management

Varghese Thambi, one of the Executive Directors is the Managing Director and Chief Executive Officer. He is assisted by nine (9) other managers in supervising the bank's activities.

Branch Network

As of August 2012, Diamond Trust Bank (Uganda) Limited has a network of branches in the central, eastern, northern and western parts of Uganda. The current branch network includes the following locations:[8][9]

  1. Arua Branch - 18-20 Avenue Road, Arua
  2. Busia Branch - 9 Sophia Lane, Busia
  3. Equatoria Branch - Equatoria Hotel Building, 37-39 William Street, Kampala
  4. Industrial Area Branch - 10-12 Kibira Road, Kampala
  5. Jinja Branch - 32-34 Main Street, Jinja
  6. Kikuubo Branch - 60 Ben Kiwanuka Street, Kampala
  7. Kitintale Branch - 1336 Kitintale-Port Bell Road, Kampala
  8. Lira Branch - 4 Aputi Road, Lira
  9. Kampala Road Branch - 17-19 Kampala Road, Kampala Main Branch
  10. Malaba Branch - 24 Kwapa Road, Malaba, Uganda
  11. Masaka Branch - 39 Kampala Road, Masaka
  12. Mbale Branch - 15B Bishop Wasike Road, Mbale
  13. Mbarara Branch - 54 Mbaguta Road, Mbarara
  14. Ndeeba Branch - 336 Nsiike Road, Ndeeba, Kampala
  15. Ntinda Branch - 2117 Kira Road, Ntinda, Kampala
  16. Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala
  17. Old Kampala Branch - 17-21 Club House, Old Kampala, Kampala
  18. Wandegeya Branch - 38 Bombo Road, Wandegeya, Kampala
  19. Naalya Branch - Metroplex Shopping Mall, Naalya
  20. Namasuba Branch - Freedom City Mall, Namasuba, Kampala
  21. Nakivubo Branch - Channel Street, Kampala
  22. Nateete Branch - Mengo Kibuga, Kampala

External links

  • Diamond Trust Bank (Uganda) Limited
  • Diamond Trust (Burundi) Limited
  • Diamond Trust (Kenya) Limited
  • Diamond Trust Bank (Tanzania) Limited
  • List of banks in Uganda
  • List of tallest buildings in Kampala

See also

References

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