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.[2]
Historyedit
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]. DTBT was declared as a public limited company in 2022 and now known as Diamond Trust Bank Tanzania Public Limited Company (DTBT Plc).
^"Banking Supervision - Directory of Financial Institutions Operating in Tanzania". Bank of Tanzania. Retrieved 25 February 2016.
^ abMbani, 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.
^"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.
^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.
^"History - Diamond Trust Bank Tanzania". Diamond Trust Bank. Retrieved 22 January 2016.
^Ngigi, George (14 March 2016). "DTB firms grip on Tanzania unit with Sh1.1bn injection". Business Daily Africa. Nairobi. Retrieved 15 March 2016.
External linksedit
DTB Uganda Limited
DTB Burundi Limited
DTB Kenya Limited
DTB Tanzania Limited
March 17, 2024
diamond, trust, bank, tanzania, limited, diamond, trust, bank, tanzania, dtbt, commercial, bank, tanzania, licensed, bank, tanzania, diamond, trust, bank, tanzania, plccompany, typeprivateindustryfinancial, servicesfounded1945headquartersplot, kahama, road, ma. Diamond Trust Bank Tanzania Plc DTBT is a commercial bank in Tanzania licensed by the Bank of Tanzania 1 Diamond Trust Bank Tanzania PlcCompany typePrivateIndustryFinancial servicesFounded1945HeadquartersPlot 991 Kahama Road Masaki Dar es Salaam TanzaniaKey peopleKarim Wissanji Chairman Ravneet Chowdhury Country Manager amp CEOProductsLoans savings checking investments debit cards credit cards mortgages electronic funds transferRevenueAfter tax TSh 11 95 billion US 5 19 million 2021 Total assetsTSh 984 billion US 450 7 million 2016 Number of employees567Websitewww wbr diamondtrust wbr co wbr tz Contents 1 Overview 2 History 3 Diamond Trust Bank Group 4 Ownership 5 See also 6 References 7 External linksOverview editDiamond 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 2 History editDiamond 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 DTBT was declared as a public limited company in 2022 and now known as Diamond Trust Bank Tanzania Public Limited Company DTBT Plc Diamond Trust Bank Group editDTBT 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 editDiamond Trust Bank Group is the majority shareholder owning 65 percent of the shares in Diamond Trust Bank Tanzania Limited as at March 2016 6 See also editBank of Tanzania List of banks in Tanzania Aga Khan Fund for Economic Development nbsp Banks portalReferences edit Banking Supervision Directory of Financial Institutions Operating in Tanzania Bank of Tanzania Retrieved 25 February 2016 a b 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 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 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 History Diamond Trust Bank Tanzania Diamond Trust Bank Retrieved 22 January 2016 Ngigi George 14 March 2016 DTB firms grip on Tanzania unit with Sh1 1bn injection Business Daily Africa Nairobi Retrieved 15 March 2016 External links editDTB Uganda Limited DTB Burundi Limited DTB Kenya Limited DTB Tanzania Limited Retrieved from https en wikipedia org w index php title Diamond Trust Bank Tanzania Limited amp oldid 1213473995, wikipedia, wiki, book, books, library,
