Diamond Trust Bank Tanzania Limited (DTB) has anounced the bussness results for the year ended 31th December 2016. DTB Tanzania’s pre-tax profit increased by 13.6% from TZS 27.3 milion in 2015 to 31.0 bilion in 2016. As PER the unaudited published results, the pre-tax profit for the banking industry increased marginally by around 0.38%
The bank customer deposit base grew by 9% from TZS 984 billion to TZS 800 billion at the end of 2016 compared to decline of 2.07% in industry.
Total assets of of the bank increased by 9% TOUCH TZS 984 billion in 2016 from 900 billion achieved in 2015 while the overall banking industry grew by 3%.
The total advances of the customer also incressing by 5% during the year in 2016, touching a level of TZS 565 billion from 536 in 2015. The bank pprudential credit process has contained the non-performing loans ration to 2.6 of the total credit book whereas the industry is presently ata avarage of 9.5%. the total non-performing assest of TZS 15.5% billion are adequately covered by the total provision of TZS 23.0 billion in addition to security charged to the bank.
Net interest income (NII) grew by 29% from 48 billion in 2015 to TZS 63 billion in 2016. The NII was the boosted by higher investmentin government securities which stood at TZS 201 at the end of 2016, compared to 158 billion in the previouse year, an Increasing of 27%.
The bank opened to additoinal branches in Dar es salaam city during the year of 2016, closing the years with 11 branches in Dar es salaam and 26 branches in Tanzania. The Central Business district (CBD) Branch along Samora-Mirambo street junction at Diamond plaza wa opened in october 2016
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