Diamond Trust Bank (DTB) will open 40 more branches by the end of 2023 fiscal as a part of the lender’s focus to make its distribution stronger in other parts of Kenya, Chief Executive Nasim Mohamed Devji said.
Currently, it has 66 branches in the country.
“To ensure easy access to finance, we are expanding our physical presence, and we will add 40 branches to our network by the end of 2023,” she said during the Kenya National Chamber of Commerce and Industry (KNCCI) Annual General Meeting held Thursday.
“Ultimately, our expansion efforts are driven by our determination to be the bank that walks the journey with micro and small business from one level to the next.”
"Hustler Nation can definitely bank with us and bank on us!"
DTB Group CEO and Managing Director Nasim Devji during the KNCCI AGM.
We are committed to working with the government to enhance lending to Small and Medium Enterprises , women and youth to spur economic growth. pic.twitter.com/txGiKQ9Qrl
— Juma and Natasha (@DTBduo) November 10, 2022
DTB reported Ksh 4 billion in Profit After Tax (PAT) HY2022, a 25% increase compared to HY2021 (Ksh 3.2 billion), mainly attributable to a 12.6% increase in total interest income.
The lender joins NCBA Bank and Co-op Bank in expanding their physical footprint.
NCBA announced it would open 12 new branches this year as part of the ambitious expansion of its retail business to take services closer to customers. It has 86 branches countrywide.
Similarly, Co-op Bank announced it would open seven new branches in the country this year, expanding its physical presence in areas it sees opportunities to grow its customer base.
