DTB, an affiliate of the Aga Khan Fund for Economic Development recorded an increase to 4.11 billion Kenyan shillings from 3.5 billion Kenyan shillings posted the same period last year.
This impressive performance is attributed to the robust growth in net interest income and fees. Net interest income rose to 6.1 billion Kenyan shillings from 5.1 billion shillings in 2013.
The group’s total assets increased to 179.6 billion Kenyan shillings in 2014, a 25.9 per cent increase from 142.71 billion Kenyan shillings the previous year.
Loans and advances to customers grew by 21.64 per cent to 120.2 billion Kenyan shillings while customer deposits increased by 30.3 per cent to reach 3.61 billion Kenyan shillings.
The bank which has a presence in East Africa, through additional investments in DTB’s subsidiaries in Tanzania, Uganda and Burundi said its total interest income had moved 23 per cent to 9.85 billion Kenyan shillings. The lender reported that all its subsidiaries had performed well.
Earnings per share for the group rose to 11.93 Kenya shillings from 11.14 Kenyan shillings in the same period last year.
On Wednesday DTB announced it had received 16 billion Kenyan shillings counter its target of 3.6 billion Kenyan shillings, a 440 per cent subscription for the 22 million additional shares it had offered at 165 Kenya shillings a share in June. The financial provider is seeking to expand its footprint in through its branch network in East Africa and to support lending.
This is the group’s fourth set of rights issued since 2006.