DTB appoints Godfrey Sebaana new managing director

Mr Godfrey Sebaana

What you need to know:

  • DTB seeks to leverage Godfrey Sebaana's two-decade, multi-discipline banking experience that spans global and local corporates, SMEs and retail banking to continue and accelerate its growth momentum.

Diamond Trust Bank has appointed Godfrey Sebaana, as the new chief executive officer and managing director.

The appointment takes effect on April 2.

Mr Sebaana, a seasoned banker with more than 20 years of experience, takes over from Mr Varghese Thambi, who has been at the helm since July 2007. 

Mr Thambi will retire from the Bank at the end of March 2024, but will remain available for a time afterwards to ensure a smooth transition.

Mr Azim Kassam, the DTB Uganda chairman, said the bank looks forward to leveraging Mr Sebaana rich domestic and regional banking knowledge and expertise to accelerate DTB’s growth. 

Mr Sebaana has worked in Uganda and Tanzania and was most recently the executive director and head of corporate, commercial, and institutional banking at Standard Chartered Bank Uganda. 

During his extensive career, he has developed a broad experience in areas ranging from mergers, acquisitions, corporate advisory and financial institutions management, across various industry segments including global and local corporates, SMEs and retail. 

He is an accountant and a fellow of the Association of Chartered Certified Accountants UK and holds a Master in Business Administration from Heriot-Watt University Edinburgh Business School.

"Godfrey joins us at a very exciting time, almost halfway through our five-year, post-Covid business growth strategy that started in 2022, at the core of which is an ambitious and aggressive digitally-driven customer acquisition and retention strategy. The board is confident that the skills, experience, local knowledge and passion that Godfrey brings to the table will accelerate our transformation towards being a digital-first, innovative, top-tier bank that places customer needs and responsiveness at the heart of our offering,” Mr Kassam, said in a Monday statement, noting that the bank was equally grateful for Mr Thambi contribution in laying a firm foundation. 

DTB has in the last 17 years grown from just one branch to a key player in Uganda’s financial ecosystem with more than 37 branches spread across Uganda, employing about 680, of whom 56 percent are female. 

Mr Thambi leaves DTB as it emerges from the industry-wide challenges of the past few years showing huge promise and potential, and on a very strong platform from which to propel itself into the future. 

“He [Mr Thambi] takes with him the deep gratitude and very best wishes of the board, staff, and the innumerable customers that he and the bank have supported over the years," Mr Kassam said.