Diamond Trust Bank: Weak results on low balance sheet growth and asset quality; downgrade to Hold

  • We downgrade the bank to a Hold, with the poor performance evidence of downside risk for our estimates

  • EPS grew by just 1% yoy to KES24.27, with total operating income down by 3% yoy on weaker net interest margin

  • Gross NPLs unexpectedly increased by 12% yoy, which we find concerning
March 20th, 2020
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