Regional Lender, DTB Appoints New Board Chairperson in Bid to Accelerate Growth and Corporate Reforms

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DTB, a regional banking financial solutions provider with operations in Burundi, Kenya Tanzania and Uganda, has announced the appointment of Mr. Linus Gitahi as its Chairperson.

The appointment, which was announced to DTB shareholders at the Nairobi Securities Exchange (NSE) listed firm’s Annual General Meeting this May, is geared at accelerating growth and corporate governance reforms.

The appointment, will also provide corporate governance leadership for DTB, which is banking on technological transformation programmes to transform its subsidiaries into premier digital banking and payments solution providers for an increasingly discerning and technology-driven customer base.

With the appointment, Mr. Gitahi who has been serving as a Director on the DTB Board has taken over the mantle from outgoing Chairperson Mr. Abdul Samji who has served for the last nine years.

The appointment of Mr. Gitahi will provide further impetus to the realization of the DTB Vision 2020 strategy which seeks to position DTB Group banks as the leading players in the banking finance industry in sub-Saharan Africa

While accepting his appointment, Mr. Gitahi confirmed that with a current asset base of Ksh378 billion (about $3.73 billion), DTB Group’s growth will be heavily leveraged on the firm’s digital transformation strategy. The strategy, he said, will seek to embed DTB subsidiaries into the lifestyles of its customers by developing simple yet efficient digital financial solutions.

“To achieve this, we will build on and leverage digital solutions, as well as embrace data-driven analytics, to effectively respond to evolving customer needs and aspirations,” he said.

While crediting outgoing Chairman Samji and the Management team led by Group CEO Ms. Nasim Devji for a job well done, Gitahi noted that DTB remains a strong institution and will continue playing a key role in the promotion of socio-economic development under his leadership.

On her part, Ms. Devji said she is looking forward to Mr. Gitahi’s leadership in actualising the DTB’s growth agenda.

“He understands this organisation and has the expertise to take DTB to greater heights and deliver value to shareholders” she said.

Last year, DTB’s resilient trading performance was reflected in its 2018 results, with the full- year group pre-tax profit rising to a record level of Ksh11 billion (about $110 million), an increase of 9% compared to the previous year. DTB’s investment portfolio in Government securities, expanded marginally during the year from Ksh113 billion ($1.12 billion) at the end of 2017 to Ksh115 billion ($1.14 billion) a year later.

The Bank has also expanded operations in the region through its subsidiaries, DTB Tanzania, DTB Uganda and DTB Burundi.

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