Diamond Trust Bank (Uganda) Limited
Encyclopedia
Overwiew
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). , the total asset valuation of the bank was approximately $US$127 million (UGX:292 billion), representing approximately 3% of banking assets in UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
at that time.
Diamond Trust Bank Group
The bank is a member of the Diamond Trust Bank GroupDiamond Trust Bank Group
Diamond Trust Bank Group is a major banking group in East Africa, active in Burundi, Kenya, Tanzania, Uganda and Rwanda.-Overview:...
, which has operations in Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its capital is Bujumbura...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
, and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
History
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 SalaamDar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
, and branches in Mombasa
Mombasa
Mombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. Branches were later opened at Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
and Kisumu
Kisumu
Kisumu is a port city in western Kenya at , with a population of 355,024 . It is the third largest city in Kenya, the principal city of western Kenya, the immediate former capital of Nyanza Province and the headquarters of Kisumu County. It has a municipal charter but no city charter...
in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
. The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
n Ismaili
Ismaili
' is a branch of Shia Islam. It is the second largest branch of Shia Islam, after the Twelvers...
Community; and the mobilization of their savings. In 1965, Diamond Jubilee Investment Trust was decentralized, and split into three entities, one each in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
In 1968, the rapid economic development of post-independence Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
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
Non-bank financial institution
A non-bank financial institution is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFIs facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market...
. 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
Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development ' is the sole for-profit agency of the Aga Khan Development Network and works in partnership with international organizations and governments to stimulate the private sectors of developing economies, with the aim of generating capital for investment...
(AKFED) and Diamond Trust Bank (Kenya) Limited (DTBK). In 1997, the bank became a full-service commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
and was renamed Diamond Trust Bank (Uganda) Limited (DTBU).
Ownership
Diamond Trust Bank (Kenya) Limited owns 51% shares in Diamond Trust Bank (Uganda) Limited.The remaining 49% is owned by the Aga Khan Fund for Economic Development
Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development ' is the sole for-profit agency of the Aga Khan Development Network and works in partnership with international organizations and governments to stimulate the private sectors of developing economies, with the aim of generating capital for investment...
(AKFED).
{| style="font-size:95%;"
|-
| width="80%" align="center" | Diamond Trust Bank (Uganda) Limited Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Diamond Trust Bank (Kenya) Limited||51.0
|-
|2||Aga Khan Fund for Economic Development
Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development ' is the sole for-profit agency of the Aga Khan Development Network and works in partnership with international organizations and governments to stimulate the private sectors of developing economies, with the aim of generating capital for investment...
||49.0
|-
| ||Total ||100.0
|-
|}
Diamond Trust Bank Group
DTBU is a member of the Diamond Trust Bank GroupDiamond Trust Bank Group
Diamond Trust Bank Group is a major banking group in East Africa, active in Burundi, Kenya, Tanzania, Uganda and Rwanda.-Overview:...
. Members of this group include:
- Diamond Trust Bank (Burundi) Limited
- Diamond Trust Bank (Kenya) Limited
- Diamond Trust Bank (Rwanda) Limited
- Diamond Trust Bank (Tanzania) Limited
- Diamond Trust Bank (Uganda) Limited
Board of directors
Diamond Trust Bank (Uganda) Limited is governed by a seven-person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. Mahmood P. Manji, one of the non-Executive Directors is the Chairman of the Board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
.
Management
Varghese Thambi, one of the Executive Directors is the Managing Director and Chief Executive OfficerChief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
. He is assisted by nine (9) other manager
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
s in supervising the bank's activities.
Branch Network
As of March 2011, Diamond Trust Bank (Uganda) Limited has a network of eighteen (18) branches in the central, eastern, northern and western parts of UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The current branch network includes the following locations:
- Arua Branch - 18-20 Avenue Road, AruaAruaArua is a town in Arua District, Northern Uganda. An important local commercial centre, it is a base for a large refugee population from Southern Sudan and the Democratic Republic of the Congo and is an aid distribution centre for those nations.-Location:...
- Busia Branch - 9 Sophia Lane, BusiaBusia, UgandaBusia is a town in Eastern Uganda. It is the main municipal, administrative and commercial center of Busia District and the district headquarters are located there. The district is named after the town.-Location:...
- Equatoria Branch - Equatoria Hotel Building, 37-39 William Street, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Industrial Area Branch - 10-12 Kibira Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Jinja Branch - 32-34 Main Street, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Kikuubo Branch - 60 Ben Kiwanuka Street, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kitintale Branch - 1336 Kitintale-Port Bell Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Lira Branch - 4 Aputi Road, LiraLira, UgandaLira is a city in Northern Uganda. It is the main municipal, administrative and commercial centre of Lira District. Lira was the main metropolitan center of the now defunct Lango District ....
- Main Branch - 17-19 Kampala Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Malaba Branch - 24 Kwapa Road, Malaba, UgandaMalaba, UgandaMalaba, Uganda is a town in Tororo District, Eastern Uganda, on Uganda's eastern border with Kenya.-Location:The town is located on the main highway between Kampala and Nairobi, approximately , by road, east of Kampala, Uganda's capital and largest city...
- Masaka Branch - 39 Kampala Road, MasakaMasakaMasaka is a town in Central Uganda, lying west of Lake Victoria. It is the chief town of Masaka District. Besides being the headquarters of Masaka District, the town is the regional headquarters and largest metropolitan area in Lyantonde District, Sembabule District, Lwengo District, Bukomansimbi...
- Mbale Branch - 15B Bishop Wasike Road, MbaleMbaleMbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
- Mbarara Branch - 54 Mbaguta Road, MbararaMbararaMbarara is a town in Western Uganda. It is the main municipal, administrative and commercial center of Mbarara District and the location of the district headquarters. It is also the largest urban centre in Western Uganda.-Location:...
- Ndeeba Branch - 336 Nsiike Road, NdeebaNdeeba-Location:Ndeeba is located on the southwestern edge of the city of Kampala. It is bordered by Mengo to the north, Katwe to the northeast, Kibuye to the east, Makindye and Najjanankumbi to the southeast, Kabowa to the south, Mutundwe to the west and Lubaga to the northwest...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Ntinda Branch - 2117 Kira Road, NtindaNtinda-Location:Ntinda is bordered by Kyambogo to the east, Nakawa to the south, Naguru to the west, Bukoto to the northwest, Kigoowa to the north and Kiwaatule to the northeast. This location is approximately , by road, northeast of Kampala's central business district...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Old Kampala Branch - 17-21 Club House, Old Kampala, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Wandegeya Branch - 38 Bombo Road, WandegeyaWandegeyaWandegeya is a neighborhood within the city of Kampala, Uganda's capital and largest metropolitan area.The name is derived from the weaver birds, , which used to inhabit the area prior to the 1990s.-Location:...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...