| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1945 |
| Headquarters | Kampala, Uganda |
| Key people | Mahmood P. Manji Chairman Varghese Thambi Managing Director & CEO |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue | Pretax: US$2.6+ million (UGX:6 billion) (2010) |
| Total assets | US$127 million (UGX:292 billion) (2010) |
| Website | Homepage |
Diamond Trust Bank (Uganda) Limited is a commercial bank in Uganda.
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As of November 2011, the bank is a fast-growing, medium-sized, banking institution, providing commercial banking services to individuals and small-to-medium-sized corporate clients (SMEs). As of December 2010[update], the total asset valuation of the bank was approximately $US$127 million (UGX:292 billion), representing approximately 3% of banking assets in Uganda at that time.[1]
The bank is a member of the Diamond Trust Bank Group, which has operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.[2][3]
The history of Diamond Trust Bank (Uganda) Limited dates back to 1945, when it was operating as the Diamond Jubilee Investment Trust, with its head office in Dar es Salaam, Tanzania, and branches in Mombasa, Kenya and Kampala, Uganda. Branches were later opened at Nairobi and Kisumu in Kenya. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African Ismaili Community; and the mobilization of their savings. In 1965, Diamond Jubilee Investment Trust was decentralized, and split into three entities, one each in Kenya, Tanzania and Uganda.
In 1968, the rapid economic development of post-independence Uganda saw the founding of Diamond Trust Properties Uganda Limited (DTPU). In 1972 Diamond Trust (Uganda) Limited (DTU) commenced operations as a non-bank financial institution. Between 1972 and the early 1990s, DTU was largely moribund due to the prevalent political instability.
In 1995 the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development (AKFED) and Diamond Trust Bank (Kenya) Limited (DTBK). In 1997, the bank became a full-service commercial bank and was renamed Diamond Trust Bank (Uganda) Limited (DTBU).[4]
Diamond Trust Bank (Kenya) Limited owns 51% shares in Diamond Trust Bank (Uganda) Limited. [5] The remaining 49% is owned by the Aga Khan Fund for Economic Development (AKFED).