[2008-08-24]  Diamond Trust Bank: 2008 Half Year Financial Results
Diamond Trust Bank Kenya Ltd (NSE Listed), reported net income of KES472 million, for the six months ended June 30, 2008 as compared to KES353 million for the same period in 2007.
• Customer deposits were KES33 billion at 30 June 2008 compared with KES24 billion at 30 June 2007.
• Interest income from Loans and Advances increased by 58%
• Interest income from government securities increased by 58%
• Balance sheet – Cash balances increased by 56%

Operating Profit
The Bank's operating profit before tax of KES718 million for the six months to 30 June 2008 was 42 per cent higher than the KES505 million earned in the first half of June 2007. Operating profit after tax for the June 2008 half year was also KES502 million. This represents a 41 per cent increase on the June 2007 half-year result of KES356 million.

Total Interest Income
Total interest income for the six months to 30 June 2008 increased by 61 per cent from KES12166 million for the June 2007 half to KES2032 million. Net interest income was KES1099 million or 50 per cent over the previous corresponding period.

Other operating income for the latest half increased 128 per cent to KES583 million compared with KES255 million in the six months to 30 June 2007 and represents 34 per cent of the Group's total operating income compared with 25 per cent for the 2007 first half. The Group's operating expenses to total operating income ratio was 57 per cent for the latest period compared with 49 per cent for the 2007 first half. Operating expenses to total assets increased to 2.38 per cent for the six months to 30 June 2008 from 1.63 per cent for the June 2007 half.



Source: NAIROBIST