Diamond Trust Bank (DTB) Opportunity, November 2023
Diamond Trust Bank (DTB) Opportunity
Diamond Trust Bank Tanzania PLC is a large financial services provider in Tanzania, with total assets valued at TSh 1,405 billion (approx. US$610 million) as at 31 December 2021. At that time, shareholders’ equity was valued at TSh 209 billion (approx. US$99.74 million). The bank has a network of 29 branches, of which 15 are in the Commercial City of Dar es Salaam, while the remaining 14 are spread across major commercial centers in the country.
Diamond Trust Bank (Tanzania) Limited (DTB Tanzania) was founded in 1945, as Diamond Jubilee Investment Trust (DJIT) with its head office in Dar es Salaam (Tanzania) and branches in Mombasa (Kenya) and Kampala (Uganda). Subsequently, branches were also opened in Nairobi and Kisumu in Kenya. At the time, DJIT operated as a community-based finance house offering savings and extending credit to members of the Ismaili Community. DTBT is a member of the Diamond Trust Bank Group, a large financial services provider in East Africa with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda. Diamond Trust Bank Group is the majority shareholder, owning 65 percent of the shares in Diamond Trust Bank (Tanzania) Limited, as at March 2016.
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