Earnings Report /
Kenya

Diamond Trust Bank: Poor Q1 21 results; investors still punishing stock despite attractive multiples

  • Unlike other Kenyan banks, DTB recorded a significant jump in loan loss provision charge thereby hurting earnings

  • Fee and commission income disappointed. Although recovery is expected, earnings volume from fee income still low

  • Management's FY 21 outlook is dim with high cost of risk and flat balance sheet growth and net interest margin; Hold

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
27 May 2021
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