The bank's statement availed to East African Business Week in Dar es Salaam last week said the banks' board of directors had "proposed a 40% per share dividend compared to the 33% that was paid last year while planning for the banks expansion in other regions."
The chairman of the board of directors for Diamond Trust Bank in Tanzania, Mr. Abdul Samji said the results of the outstanding performance show that the bank's pre-tax profit rose by 44% to Tsh10.2 billion (US$ 6.41 million) in 2011 from Tsh7.1 billion (US$ 4.45 million in 2010.
Mr Samji said the bank's deposit base grew by 22% to Tsh269 billion (US$ 172.44 million) in 2011 from Tsh221 billion (US$141.67 million) in 2010 and that the loan book also went up by 30% to US$123.72 million (Tsh193 billion) while the asset base increased by 19% to US$206.41 million (Tsh322 billion) from US$173.08 million (Tsh270 billion) in 2010.
He said that Tanzania turned in an exemplary year of performance in 2011 despite the adverse macroeconomic environment that set in at the end of the year.
"With the pre-tax profit crossing US$6.41 million (Tsh10 billion) for the first time, DTB marked an important milestone as we strive to achieve our long term vision of emerging as a significant banking player in Tanzania," Samji said.
He emphasized that, DTB would continue on its growth trajectory anchored on expanding its branch network with an aim of covering all commercial centers in Tanzania over the medium term.
"The successes that the bank has recorded at the ended of last year, is a re-affirmation of the twin pronged long term strategy of building a robust liability franchise and practicing a strong credit culture", it read part of the statement.
According to him, DTB would continue to adopt practical risk management practices as it was amongst the few banks to increase the general provision on performance loans to 0.75% despite an extremely low non-performing loan ration of less than 0.50%.
DTB is being recognized as amongst the most well run banks on the back of sustained business performance in the country with low default rates but growth rate higher than average.
The bank is an affiliate of the Aga Khan Fund for Economic development (AKFED), the economic development arm of the Aga khan Development Network while the other banks key share holders is Diamond Trust Bank Kenya limited.
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