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Uganda : DTB issues Sh3.63 BILLION rights to boost its presence

July 2, 2014

Diamond Trust Bank (DTB) announced a Rights Issue from which it targets to raise Sh3.63 billion to finance its expansion programme.

According to Nasim Devji, the CEO of DTB, the Bank will reinforce its presence through additional investments in the subsidiaries within the region with rights Issue.

She said, We will be investing in Rwanda, South Sudan, Mozambique, Madagascar to enable us build up our asset base and realise our aggressive growth aspirations under vision 2020.

They will build a wider network of domestic branches and innovative delivery channels as well as expanding outside East African markets, said Devji.

DTB asset base has risen by 24% to stand at Sh171 billion in the 2014 financial year up from 139 billion shillings in 2013.

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Source: TendersInfo (India)

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