Diamond Trust Bank intends to open 17 new branches

Diamond Trust Bank Group (DTB), a Nairobi-based lender led by Kenyan businesswoman Nasim Devji, has announced plans to open 17 new branches by the end of the year as part of its latest expansion drive to deliver increased value through its operations.

The strategic expansion drive, which will supplement the group’s business growth strategy as a relevant and premier financial institution in East Africa, is perfectly aligned with its efforts to deepen its market presence in fast-growing regions and create increased value through its assets as it looks ahead to 2022 and beyond.

The addition of the 17 branches as part of DTB’s latest expansion drive will increase the bank’s branch network in Kenya from 63 to 81, while its total branch network across East Africa will increase from 129 to 146.

In the midst of customers’ rapid adoption of online banking services and products, Devji, a leading businesswoman and DTB group CEO, stated that the bank’s decision to continue expanding its branch network demonstrates the lender’s confidence in the Kenyan economy.

“As DTB, we remain optimistic about Kenya’s economic recovery. We are therefore making strides to be closer to our customers to support them to attain their personal and business goals,” she explained.

Linus Gitahi, chairperson of DTB, stated that the latest move demonstrates DTB’s commitment to expanding its presence in the region in line with its growth strategy.

“The investments we are making are not only a sign of the bank’s financial strength but also a sign of our commitment to creating more convenience for our customers. As a tier-one bank, we are keen on increasing our market presence as this underpins our growth strategy,” he said.

DTB Group is a leading East African lender with operations in Kenya, Burundi, Tanzania, and Uganda. It provides retail and commercial banking services to both individuals and businesses.

Under the leadership of Devji, who has been at the helm of the group since 2001, the banking group, which is rated as one of Kenya’s tier-1 banks alongside KCB, Equity, Co-operative Bank, Stanbic, Absa, and Standard Chartered Bank, has grown into a leading lender in East Africa.

DTB has grown into a financial services industry leader under Devji, with total assets in excess of Ksh455 billion ($3.8 billion).

The bank, which has been in operation for more than 75 years, has 570,867 customers, 352,816 mobile banking customers, and a branch network of 129 branches spread across Kenya (63), Tanzania (28), Uganda (34), and Burundi (4).

Devji is one of five female CEOs at Kenyan commercial banks. The other four are Betty Korir, CEO of Credit Bank; Rebecca Mbithi, CEO of Family Bank; Anne Karanja, CEO of Kenya Post Office Savings Bank; and, Joyce Ann Wainaina, CEO of Citibank Kenya.