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Diamond Trust Bank profit rises 54 percent

Kenya's Diamond Trust Bank's first-quarter pretax profit rose 54 percent on a big jump in income from its loan book, the bank said on Thursday.

The bank, which also operates in Tanzania, Uganda and Burundi, said profit rose to 1.35 billion shillings for the three months to the end of March, lifted by a 80 percent rise in lending.

Interest income from loans and advances increased to 3.2 billion shillings from 1.8 billion shillings in the same period in 2011, the bank said in a statement.

Net interest income rose 50 percent to 2 billion shillings, while its basic earnings per share rose to 4.03 shillings from 3.19 shillings last year.

Diamond Trust Bank said in March it planned to offer a rights issue this year to finance expansion. It successfully raised funds through rights issues in 2006 and 2007.

Reuters
10-May-2012

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