KAMPALA, Oct 8 (Reuters) – Banks in Uganda plan to appeal a court ruling issued on Wednesday that has effectively declared illegal certain syndicated loans – representing at least $1.5 billion worth of debt – an industry body said on Thursday. The ruling by the Commercial Court was the result of legal action by Ham […]
Hamis Kiggundu with his lawyers in court recently I have been keenly following the case of Uganda’s businessman, Hamis Kiggundu (Ham) of Ham Enterprises (U) Ltd against Diamond Trust Bank (Uganda) and Diamond Trust Bank (Kenya) of unlawfully debiting Shs 120 billion from his accounts. When Ham had just filed this case, some Ugandans thought […]
Diamond Trust Bank Kenya has reported a 36.5 percent year on year dip in Profit after Tax to Sh2.6 billion in the first half of the year. This is even as loan provisions surged 249.2 percent year on year to Sh1.9 billion. Top-line performance was supported by Non-Interest Revenue, which grew 5.9 percent and 1.2 […]
By Frank R Kasoroza A story is told of an elderly woman in 1935 New York whose son in law abandoned her daughter and their two children. The toll of the great depression apparently more than he could bear. This elderly lady, herself reeling from the economic hardship of the day, but spurred on by […]
At the onset of the Covid-19 pandemic, Equity Group Chief Executive James Mwangi (pictured) spent hours poring over historical records. Mwangi studied all the major pandemics and their impact on the health, social and economic fabric years after they struck. “Pandemics have a way of coming back and terrorising societies every 100 years,” he told […]
Diamond Trust Bank Kenya has reported a 36.5 percent year on year dip in Profit after Tax to Sh2.6 billion in the first half of the year. This is even as loan provisions surged 249.2 percent year on year to Sh1.9 billion. Top-line performance was supported by Non-Interest Revenue, which grew 5.9 percent and 1.2 […]
At the onset of the Covid-19 pandemic, Equity Group Chief Executive James Mwangi (pictured) spent hours poring over historical records. Mwangi studied all the major pandemics and their impact on the health, social and economic fabric years after they struck. “Pandemics have a way of coming back and terrorising societies every 100 years,” he told […]
To support small and medium-sized enterprises (SMEs) that are struggling during the COVID-19 pandemic, the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently issued a loan of USD 50 million to Nairobi-based Diamond Trust Bank Kenya Limited (DTB Kenya). The targeted sectors include financial institutions, tourism, manufacturing and healthcare. Manuel […]
File photo Image Credit: Twitter (@ndevji) Diamond Trust Bank Kenya Limited (DTB) has signed an agreement for a USD 50 million loan with International Finance Corporation (IFC), a member of the World Bank Group, to support its borrowers who have been affected by the COVID-19 pandemic, especially small and medium enterprises (SMEs), according to a […]
Nasim Devji, Group CEO and Managing Director DTB Diamond Trust Bank Kenya Limited (DTB) has signed an agreement for a USD 50 million loan with IFC, a member of the World Bank Group, to support its borrowers who have been affected by the COVID-19 pandemic, especially small and medium enterprises (SMEs). The funds are being […]
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