Kenyan mid-tier lender Diamond Trust Bank (DTB) said it plans to increase its capital by issuing new shares worth a combined KES 200mn ( EUR 1.7mn ) and raise some KES 88mn ( EUR 754,200 ) in equity capital through a rights issue. The bank management has requested approval by its shareholders to issue 50mn new ordinary shares worth KES 4 each in order to increase its capital to KES 1.2bn. It has also asked for approval to offer to the shareholders 22mn of the new ordinary shares. DTB posted a net profit of KES 3.1bn for the first nine months of 2013, up 39.6% y/y. The bank, which has operations in Burundi , Tanzania and Uganda , eyes expansion into South Sudan and Rwanda and plans also to expand its branch footprint in Kenya and strengthen its subsidiaries in the region. It raised KES 1.81bn through a rights issue in August 2012 to fund its expansion plans.
Most Popular Stories
- Ukraine Crisis Limits Losses in Gold, Silver
- Chiquita, Fyffes to Form Top Banana
- Can GOP Dodge Immigration Bullet?
- Big Earthquake Rumbles Northern California
- China's Money Rate Drops on Slowdown Concern
- Software Writers Sought in Indiana
- Mt. Gox Files for Bankruptcy in U.S.
- Photo ID Required for Unemployment Benefits
- '300' Sequel Conquers Box Office Foes
- Sbarro Files for Bankruptcy Again