Tanzania: Diamond Bank Named Best Risktaker Institution

THE Country Manager and CEO of DTB-Tanzania, Mr Viju Cherian receives the certificate of recognition for "The Best Risk Management Corporate of the year 2017" from the Internal Auditor General of Tanzania, Mr Mohamed Mtonga during the second graduation ceremony of The Institute of Risk Management Tanzania (IRMT) in Dar es Salaam recently. (Photo: courtesy of DTB)

DIAMOND Trust Bank has emerged the top financial institution with best risk management portfolio in the country.

The bank won the top award dubbed "The Best Risk Management Corporate of the year 2017" for financial institutions with asset exceeding 1.0tri/- issued by the Institute of Risk Management Tanzania (IRMT).

The award, according to IRMT, is won after a commercial bank go through a rating-lens over balance sheet size, capital adequacy, liquidity, non-performing loans performance and independent risk management function.

Others are consistency in growth over three years in terms of pre-tax profitability, cost and income management, Return on Equity (RoE) and Return on Asset (RoA).

IRMT Vice-President, Mr Buyamba Buyamba said the survey was conducted last year by the institute and featured 43 commercial banks in three categories depending on the size of the financial institute balance sheet.

"Diamond bank emerged in the top position amongst large banks with Balance Sheet size of more than 1.0tri/-," the Vice-President said. CitiBank was rated the best in the medium sized category with Balance Sheet between 500bn/- and 1.0tri/-. Habib Africa Bank was the winner in the small banks category.

Mr Buyamba announced the winners when addressing risk professionals and graduates at the second IRMT graduation ceremony. The Diamond Trust managed to maintain NPLs at 4.3 per cent well below the industry average 11.7 per cent last year, despite a larger asset portfolio of 1.14tri/-.

The Bank has also over the years been systematically increasing the number of branches as well as growing the overall business both on the assets and liabilities front.The expansion of business has been judiciously managed ensuring above industry profitability as indicated by the bank’s consistent ROA and ROE. IRMT is a professional organisation established in 2015 with a mandate to promote the common interest and advance theory and […]

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