DTB posts Shs19.5b in profits
An ATM section at a Diamond Trust Bank branch in Uganda.
Diamond Trust Bank has posted a net profit of Shs19.5b for the year ended December 2019.
The profit is at least Shs1.6b higher than the Shs17.9b that the ban posted for the year ended December 2018.
The bank, according to details published in its financials, also posted growth in customer deposits that grew to more than Shs1.32 trillion during the period under review.
Total income grew to Shs170.8b from Shs163.2b in the same period in 2018.
The growth was specifically boosted by growth in interest deposit and placements of more than Shs6.1b from Shs3.9b.
However, interest on loans and advances fell marginally to about Shs59.4b from Shs69b registered in 2018.
Non-performing loans and other assets for the period stood at Shs46.6b up from Shs27b in the same period last year.
At least Shs23.8b was written off in bad debts compared to Shs26.2b that was written off in the same period last year.
The bank’s core for the period ended December 31, 2019 stood at Shs201.6b compared to Shs217.b last year.
