Diamond Trust Bank reported a 13.4% increase in net profit to Sh6.8 billion for the year ended December 2023.
This growth was driven by higher income from interest and transactions.
As a result, Diamond Trust Bank raised its dividend payout to a record Sh6 per share, representing a total payout of Sh1.6 billion. This reflects a payout ratio of 24.3% of net income, up from 23% in the previous year.
The bank’s net interest income grew 20.4% to Sh27.5 billion; interest expenses also jumped due to rising deposit rates. DTB reduced its investment in government securities but saw interest income from these assets increase due to higher rates.