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	Pretax: US$2.6+ million (UGX:6 billion) (2010)
Total assets	US$127 million (UGX:292 billion) (2010)
Website	Homepage

Diamond Trust Bank (Uganda) Limited is a commercial bank in Uganda. As of February 2009, the bank is a medium-sized, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. As of December 2010^[update], the total asset valuation of the bank was approximately $US$127 million (UGX:292 billion), representing approximately 3% of banking assets in Uganda at that time.^[1]

Diamond Trust Bank Group

The bank is a member of the Diamond Trust Bank Group, which has operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.^[2][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]

Ownership

Diamond Trust Bank (Kenya) Limited owns 51% shares in Diamond Trust Bank (Uganda) Limited. ^[5] 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 Diamond Trust Bank Group DTBU is a member of the Diamond Trust Bank Group. 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 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 March 2011, Diamond Trust Bank (Uganda) Limited has a network of eighteen (18) branches in the central, eastern, northern and western parts of Uganda. The current branch network includes the following locations:[6] Arua Branch - 18-20 Avenue Road, Arua Busia Branch - 9 Sophia Lane, Busia Equatoria Branch - Equatoria Hotel Building, 37-39 William Street, Kampala Industrial Area Branch - 10-12 Kibira Road, Kampala Jinja Branch - 32-34 Main Street, Jinja Kikuubo Branch - 60 Ben Kiwanuka Street, Kampala Kitintale Branch - 1336 Kitintale-Port Bell Road, Kampala Lira Branch - 4 Aputi Road, Lira Main Branch - 17-19 Kampala Road, Kampala Malaba Branch - 24 Kwapa Road, Malaba, Uganda Masaka Branch - 39 Kampala Road, Masaka Mbale Branch - 15B Bishop Wasike Road, Mbale Mbarara Branch - 54 Mbaguta Road, Mbarara Ndeeba Branch - 336 Nsiike Road, Ndeeba, Kampala Ntinda Branch - 2117 Kira Road, Ntinda, Kampala Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala Old Kampala Branch - 17-21 Club House, Old Kampala, Kampala Wandegeya Branch - 38 Bombo Road, Wandegeya, Kampala External links Diamond Trust Bank (Uganda) Limited Diamond Trust (Kenya) Limited Diamond Trust Bank (Tanzania) Limited List of banks in Uganda See also Diamond Trust Bank Group Banking in Uganda References ^ Diamond Trust Bank Profits Rise ^ Diamond Trust Bank Group is over 60 Years Old ^ Diamond Trust Bank Goes to Rwanda in 2009 ^ History of Diamond Trust Bank (Uganda) Limited ^ DTBK owns 51% of DTBU ^ Branches of Diamond Trust Bank in Uganda