May 20, 2015 Kenya’s Diamond Trust Bank (DTB) has announced interests in extending operation in Africa. Ranked Kenya’s seventh biggest bank by assets is planning to use part of proceeds from a rights issue done last year to open up new branches on the island Madagascar and the Democratic Republic of Congo (DRC), reported on Monday Kenyan newspapers, citing Abdul Samji, the chairman of the board of Diamond Trust Bank, who had given the information at the general meeting of the group.
We are already looking at both these new markets and will make a move once feasibility studies are completed and subject to us receiving all the necessary approvals,” said Chairman DTB Board of Directors Abdul Samji during the 49th DTB Annual General Meeting (AGM) held at Laico Regency in Nairobi.
This expansion plan was announced to the shareholders, while the financial group shows little generous in its dividend policy. A position disliked by shareholders.