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Diamond Trust Bank lifts 9-month pretax profit by 22 pct

14 November 2013, 15:51

Nairobi - Kenyan lender Diamond Trust Bank posted a 22 percent jump in pretax profit for the first nine months of the year, helped by a rise in net interest income, it said on Thursday.

The bank, which also operates in Tanzania, Uganda and Burundi, said that profit for the period rose to 5.33 billion shillings ($61.68 million) from 4.37 billion shillings in the first nine months of 2012.

Net interest income rose by a fifth to 7.94 billion shillings, helped by total interest expenses falling to 4.45 billion shillings from 5.77 billion shillings.

Net loans and advances to customers also jumped 20 percent 102.24 billion shillings, while its total assets rose to 159.28 billion shillings from 129.78 billion shillings.

Its earnings per share rose to 17.64 shillings from 14.27 shillings in the same period a year ago.

Diamond Trust Bank joins rivals such as Kenya Commercial Bank, Equity Bank and National Bank in reporting growth in pretax profit in the first nine months of the year.

- Reuters


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