DTK | Diamond Trust Bank Group Q3'23 Earnings Note

Diamond Trust Bank Group posted a modest 5.00% y/y climb in profit after tax (PAT) to KES 6.61Bn over the nine months to September 2023. The trailing EPS momentum however eased 262bps to KES 22.56 over the same period. The rise in PAT was supported by a faster surge in non-funded income (33.92% y/y) compared to funded income (19.57% y/y). The trailing returns on equity (ROE) climbed 197bps y/y to 10.02% while the trailing returns on assets (ROA) climbed 11bps y/y to 1.29%. The group’s net interest margin (NIM) widened marginally to 5.20% even as the profitability margin edged down 403bps y/y to 22.57%.