Diamond Trust Bank (Tanzania) Limited

Diamond Trust Bank (Tanzania) Limited (DTBT) is a commercial bank in Tanzania, licensed by the Bank of Tanzania.[1]

Diamond Trust Bank (Tanzania) Limited
TypePrivate
IndustryFinancial Services
Founded1945
Headquarters9th floor Harbor View Towers Dar es Salaam, Tanzania
Key people
Abdul Samji
Chairman
Viju Cherian
Country Manager & CEO
ProductsLoans, savings, checking, investments, debit cards, credit cards, mortgages, electronic funds transfer
RevenueAfter-tax: US$9.87 million (TZS: 21.55 billion) (2016)
Total assetsUS$450.7 million (TZS: 984 billion) (2016)
Number of employees
475
Websitewww.dtbt.dtbafrica.com

Overview

Diamond Trust Bank (Tanzania) Limited (DTB Tanzania) is a large financial services provider in Tanzania, with total assets valued at TZS 984 billion (approx. US$450.7 million) as at 31 December 2016. At that time, shareholders' equity was valued at TZS 146 billion (approx. US$66.88 million). The bank has a network of 28 branches, of which 14 are in the Commercial City of Dar es Salaam, while the remaining 14 are spread across major commercial centers in the country.[2] As per June 2017 audited industry financial results, Diamond Trust Bank (T) Limited emerged as Tanzania's 4th Most Profitable Bank.

History

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.[3]

In 1965, DJIT was divided into three companies – DJIT Tanzania, DJIT Kenya and DJIT Uganda with the respective head offices in Dar es Salaam, Nairobi and Kampala. DJIT Tanzania changed its name to Diamond Trust of Tanzania (DTT) in 1990. Under the name change, the Bank extended its facilities from a community-based finance house into a non-bank financial institution, and began offering financial services to the general public.[4]

DTT was recapitalized in 1995 through injection of funds by its shareholders. Diamond Trust Bank Kenya and the Aga Khan Fund for Economic Development (AKFED) emerged as its two principal shareholders, holding 33% and 31% shareholding respectively. In 1997, DTT was licensed as a full commercial bank and changed its name to Diamond Trust Bank Tanzania Limited (DTBT).[5]

Diamond Trust Bank Group

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.[2]

Ownership

Diamond Trust Bank Group is the majority shareholder, owning 65 percent of the shares in Diamond Trust Bank (Tanzania) Limited, as at March 2016.[6]

Branch network

As of April 2017, Diamond Trust Bank (Tanzania) Limited had a network of branches in the central, eastern, northern, and western regions of Tanzania. The branch network included the following locations:

1. Arusha City - Sokoine Road, Arusha

2. Arusha Main - Moshi Road, Arusha

3. Dar CBD Branch - Diamond Plaza, Samora Avenue/Mirambo Street, Dar es Salaam

4. Dar es Salaam Main Branch - Jamat/Mosque Street, Dar es Salaam

5. Dodoma Branch - Habib Avenue, Dodoma

6. Iringa Branch - Myomboni, Iringa

7. Kahama Branch - Ngaya/Isaka Road, Shinyanga

8. Kariakoo Branch - Msimbazi Street, Dar es Salaam

9. Magomeni Branch - Off Morogoro Road, Dar es Salaam

10. Masaki Branch - Chole Road, Dar es Salaam

11. Mbagala Branch - Kilwa Road, Dar es Salaam

12. Mbeya Branch - Lupa Way Market Street, Mbeya

13. Mbezi Branch - Shamo Towers, Bagamoyo Road, Dar es Salaam

14. Mbezi Chini Branch - Capital Plaza, Mwai Kibaki Road, Dar es Salaam

15. Mlimani Branch - Mlimani City Shopping Mall, Sam Nujoma Road, Dar es Salaam

16. Morocco Branch - Airtel Tanzania Headquarters, Dar es Salaam

17. Morogoro Branch - Lumumba Road, Morogoro

18. Moshi Branch - Old Moshi Road, Moshi

19. Mtwara Branch - Tanu Road, Mtwara

20. Mwanza Branch - Kenyata Road, Mwanza

21. Mwanza Main Branch - Nyerere Road, Mwanza

22. Nelson Mandela Road Branch - Versani Plaza, Dar es Salaam

23. Nyerere Road Branch - Quality Plaza, Nyerere Road, Dar es Salaam

24. Tabora Branch - Ujiji Street, Tabora

25. Tanga Branch - Taifa Road, Tanga

26. Upanga Branch - United Nations Road, Dar es Salaam

27. Uhuru Branch - Uhuru Street Kariakoo, Dar es Salaam

28. Zanzibar Branch - Stone Town Forodhani Area, Zanzibar

See also

References
  1. "Banking Supervision - Directory of Financial Institutions Operating in Tanzania". Bank of Tanzania. Retrieved 25 February 2016.
  2. Mbani, Mnaku (20 November 2015). "Diamond Trust Bank's Capital Hits TSh109 Billion Mark After 'Rights' Issue". Tanzania Business Times. Dar es Salaam. Retrieved 15 March 2016.
  3. "Sir Sultan Muhammad Shah, Aga Khan III – The Diamond Jubilee: "An Incomparable Occasion in the World" - The Diamond Jubilee – Sixty Years of Imamat (1885-1945)". Simerg.com. 2009-12-11. Retrieved 26 January 2016.
  4. Adam, Michel (2015). Indian Africa: Minorities of Indian-Pakistani Origin in Eastern Africa. Dar es Salaam, Tanzania: Mkuki na Nyota Publishers Ltd. pp. 237–238.
  5. "History - Diamond Trust Bank Tanzania". Diamond Trust Bank. Retrieved 22 January 2016.
  6. Ngigi, George (14 March 2016). "DTB firms grip on Tanzania unit with Sh1.1bn injection". Business Daily Africa. Nairobi. Retrieved 15 March 2016.
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