Godfrey, DTB Uganda has often been described as a bank built on stability, strong capital, and purposeful growth. Can you walk us through how the bank has navigated 2024 in line with these core pillars

Diamond Trust Bank Uganda (DTB) is a pillar of financial strength, built on a foundation of resilience, strategic growth, and customer trust. As Uganda’s economic landscape continues evolving, DTB remains committed to delivering sustainable financial solutions, ensuring lasting value for businesses and individuals.

DTB released its 2024 performance highlights in April. In a commentary on the results, the Board Chairman said it was a “year of transition and consolidation.” Can you walk us through the key fundamentals that shaped this year and how they position DTB for sustained growth in the future?

The year 2024 marked a transformative phase for DTB, as the bank implemented key strategic refinements aimed at optimising operational efficiency and asset allocation. These strategic initiatives have strengthened DTB’s ability to meet evolving market demands, enhance customer experience, and reinforce its financial stability.

As a result, fees and other income grew by 25%, while total income grew by 8%, reflecting the bank’s expanding revenue base and diversified financial streams. Additionally, loans recorded a 3% growth, reaffirming DTB’s commitment to supporting businesses and individuals with accessible financing solutions. At the same time, the bank’s customer base grew by 3%, further demonstrating increased customer trust and engagement. 

Despite this outlook, some of our customers struggled to recover post-COVID-19, and as a result, the bank made a one-off provision that affected our net operating income. 

Given DTB’s vision and mission to empower businesses and communities, how do the 2024 results and the bank’s core strengths position it to continue contributing meaningfully to Uganda’s economic progress?

A: DTB Uganda remains a well-capitalised and financially stable bank, providing long-term security for its customers. The bank’s core capital ratio of 21.2% surpasses the statutory minimum of 12.5%, while total capital to risk-weighted assets stands at 21.9%, significantly exceeding the regulatory threshold of 14.5%. These figures underscore DTB’s commitment to financial strength, instilling confidence among customers, partners, and stakeholders.

With UGX 2.86 trillion in assets and UGX 2.09 trillion in deposits, DTB stands as a trusted financial institution, enabling businesses, entrepreneurs, and individuals to access tailored financial solutions that fuel sustainable growth. In 2024, some of the initiatives were as indicated below;

• Powering industrial growth through strategic financing–  We remain a strong pillar in Corporate and Business banking, driving Uganda’s industrial growth. With a steadfast commitment to supporting the manufacturing sector, DTB provides tailored financial solutions that empower industrial players. Through working capital, term financing, and essential capital expenditure (CAPEX), the bank equips manufacturers with the resources needed to innovate, expand production, and enhance value addition.

• Facilitating Trade & Commerce – DTB Uganda remains a key enabler of Uganda’s trade and economic growth. By facilitating the fast-moving consumer goods (FMCG) sector and retail trade, DTB has strengthened the country’s supply chain and enhanced economic output. Through strategic connections to major trade corridors including Uganda-China, India-Uganda, Uganda-Europe, and Uganda-America, the bank has empowered the trading community with seamless access to international markets.
• Driving Key Economic Sectors – DTB has consistently invested in key economic sectors such as agriculture, real estate, construction, telecommunications, and hospitality, fostering interconnected growth across industries. Our support strengthens the entire ecosystem, ensuring businesses and individuals thrive. Our investment in agriculture has enhanced raw material production, directly fueled manufacturing and industrialisation while creating employment opportunities, improving livelihoods, and driving infrastructural development. 

As Uganda’s financial sector continues to evolve, DTB remains resilient, innovative, and customer-centric, ensuring that its financial solutions align with the country’s development agenda. Through responsible lending and strategic partnerships, DTB Uganda is well-positioned to seize new opportunities, strengthen national economic frameworks, and support long-term prosperity.

How is DTB Uganda driving innovation through product initiatives and partnerships to stay ahead of the curve and continue delivering on its mission?

At DTB, innovation is at the core of our mission to transform financial access, deepen inclusion, and elevate customer experiences. We are continuously evolving by leveraging innovative technology partnerships and empowering our people with the skills to drive the future of banking. Our key innovation highlights include:

1. Expanding partnerships & digital ecosystems –DTB has partnered with telecom and fintech innovators to shape the future of digital transactions. Through these partnerships, we powered these mobile money operators to launch virtual cards, enabling swift and secure global payments to benefit millions of people. Over 120,000 customers now enjoy enhanced security, frictionless convenience, controlled spending, and instant issuance, setting new standards in digital banking.

2. Digital lending solutions – In line with our vision, “Enabling people to advance with confidence and success,” and to effectively deliver on our mission, the bank partnered with FinTech companies and have developed solutions that have helped access credit with convenience and ease. Our micro-lending platforms, DTB Kash Now and Kwasa Kwasa, are empowering individuals through instant microcredit fueling business growth and enhancing livelihoods across Uganda. Over 3,000,000 people who could not access credit earlier through conventional banking channels have leveraged these solutions to scale their enterprises and improve their financial well-being.

3. Global money transfer partnerships – DTB Uganda continues to lead in cross-border financial solutions, solidifying its position in global money transfers. Through strategic partnerships with Western Union , MoneyGram,  and TerraPay, we empower families and businesses in Uganda by facilitating seamless foreign deposit remittances. These partnerships ensure swift, secure, and efficient transactions that drive financial empowerment across communities. Taking our commitment even further, we are proud to expand our global reach by introducing ACE Money to our growing network. With this addition, our customers now have more flexibility and accessibility, reinforcing DTB Uganda’s role in shaping the future of international money transfers.

4. Driving Digital Transformation for Seamless Banking – DTB Uganda continues to harness technological advancements, strengthening its digital platforms through DTB m24/7 mobile banking and DTB i24/7 internet banking. These innovative solutions have been widely embraced by customers, leading to increased enrollment and usage. By staying ahead of emerging trends and identifying potential risks, we proactively enhance security and safeguard customer value, ensuring a first-class banking experience that is convenient, reliable, and future-ready.

5. Expanding Accessibility with smart banking solutions – In our commitment to expanding accessibility through smart banking solutions, we continue to strategically grow our Agent Banking Network while optimizing our branch presence. With a widespread network of agents across the country, (now above 1,000 agent) we are breaking barriers and bringing transformative financial services to previously unbanked communities. This initiative is further complemented by our extensive ATM outlets and Points of Sale merchants, ensuring seamless convenience and a superior banking experience for all our customers. These cost-effective solutions ensure seamless banking services, providing our customers with quick and convenient access to cash and transactions, even beyond traditional branch locations.
6. Revolutionizing mobile money & digital payments – Through strategic collaborations with top Mobile Money operations, we are ensuring seamless mobile money services nationwide. Customers benefit from real-time floating solutions via internet banking, mobile platforms, agent banking, and counter services—bridging financial gaps and extending access to even the most remote and underserved communities. By continuously investing in technology-driven accessibility, DTB is redefining financial convenience across Uganda.

How does DTB Uganda’s commitment to sustainability and community impact align with its mission and contribute to the country’s development?

Beyond financial services, DTB Uganda remains deeply committed to sustainability and Social Responsibility, actively driving initiatives that support communities and environmental conservation.

1. Responsible banking – In 2024, DTB reaffirmed its commitment by becoming a signatory to the Principles for Responsible Banking, a global framework developed in collaboration with the United Nations Environment Programme Finance Initiative (UNEP FI). This commitment aligns our business strategy with the UN Sustainable Development Goals and the Paris Agreement, ensuring that we contribute meaningfully to a more sustainable financial industry while managing environmental and social risks effectively. We have taken bold steps to implement the Principles for Responsible Banking, ensuring alignment with global environmental, social, and governance (ESG) goals.
2. Environment conservation and restoration – We recognize that sustainable growth also involves preserving the environment for future generations. In collaboration with theNational Forest Authority (NFA)and various partners, we are actively supporting environmental restoration efforts across Uganda. So far, we have planted over 26,000 trees in key regions, including Masaka, Kampala, Wakiso, Jinja, West Nile, and beyond. This initiative is a step toward carbon footprint reduction and biodiversity conservation.

3. Empowering girls through education & health- At DTB, we believe that education and health are powerful catalysts for gender equity. In partnership with the United Nations Population Fund (UNFPA), local governments in the West Nile Region, and other strategic allies, we are committed to supporting girl-child education through impactful initiatives. Under the ‘DTB Achieve More Girl Initiative’, we are delivering menstrual hygiene materials to 10,000 schoolgirls, ensuring they have access to essential resources that promote dignity, school attendance, and overall well-being. By addressing menstrual health challenges, we aim to reduce barriers to education, enabling young girls to stay in school, pursue their ambitions, and transform their futures.

4. Advancing Community Health Through Strategic Partnerships- DTB is committed to driving social empowerment by enhancing community health care through impactful collaborations. In partnership with the Kabaka Foundation, we are championing medical outreach programs designed to bring essential healthcare services closer to underserved populations. Through medical camps, we aim to reach 1.5 million people over the next three years, providing critical health screenings, consultations, and treatments to communities in need. So far, over 120,000 people in Buddu (Masaka), Ssingo (Mityana), Busiro (Wakiso), and Kyadondo (Kampala) have benefited from this initiative, reinforcing our commitment to accessible healthcare solutions.

Looking ahead, how is DTB Uganda strengthening financial excellence and innovation to stay competitive, foster shared prosperity, and continue delivering value to customers and communities?

As we move forward, our priority is clear, deepening customer relationships by delivering 

accessible, relevant, and responsive financial solutions. A key focus remains strengthening support for our clients,  the backbone of our economy, by offering tailored financial services that foster business growth and stability.

While digital banking is central to our strategy, convenience and efficiency remain key pillars of our approach. Our robust branch network and agent banking model will continue to complement our digital platforms, ensuring seamless customer experiences across both physical and online channels.

We will expand our customer base through direct acquisition and strategic partnerships, further digitizing our product offerings to enhance accessibility. With a resilient and agile approach, DTB is well-positioned to seize new opportunities in the evolving financial landscape, reinforcing our commitment to innovation, customer-centricity, and sustainability.

As financial markets continue to evolve, DTB remains steadfast in delivering value to all stakeholders. Our optimism is fueled by the dedication and talent of our people, whose passion and expertise drive our vision for the bank of tomorrow. 

The Board of Directors has played a pivotal role in guiding and supporting the execution of our strategy, ensuring we fulfill our mission: To make our customers prosper, staff excel, and create value for our stakeholders. Their leadership has been instrumental in shaping our growth, fostering innovation, and driving sustainable success across all facets of our operations. Through strategic oversight and unwavering commitment, the Board continues to strengthen DTB Uganda’s impact, empowering both customers and communities.