NAIROBI, Kenya May 24-Diamond Trust Bank (DTB) has posted a Sh2.2billion net profit for the first quarter of 2022, a 15.8 per cent increase compared to Sh1.9 billion posted in the same period last year.
The improved earnings for the lender were attributable to increased operating income and customer deposits.
The Group’s total operating income grew by 10.6 per cent to Sh7.3billion compared to Sh6.6billion while customer deposits grew by 13.8 per cent to Ksh.343.1 billion from Ksh.301.6 billion.
Total operating expenses meanwhile stood at Sh3.9 billion from Sh3.6 billion amid increased staff costs and amortization fees.
In the review period, DTB cut its loan-loss provisioning costs by 15 per cent to Sh582 million from Sh684.3 million.
The fall in the cover for loan defaults is however on the backdrop of a 31 per cent jump in gross non-performing loans to Sh30 billion from Ksh.22.9 billion.
Meanwhile, DTB’s net loans and advances to customers have grown by a marginal two per cent to Ksh.224.8 billion from Ksh.220.4 billion.
