Diamond Trust Bank Kenya Limited (NSE: DTK) will divest from DTB Burundi, marking a strategic shift in its regional footprint.
The bank has entered into a conditional sale and purchase agreement to offload its entire 83.67% stake in the Burundian subsidiary to a consortium of Burundi-based investors, including the existing minority shareholder.
“This decision aligns with our strategy to optimise and consolidate operations across our core markets,” said Nasim Devji, Group CEO of DTB.
DTB Burundi, operational since 2009, has played a role in the country’s banking sector. The transaction is subject to regulatory approvals.
Strategic Refocus on Core East African Markets
The divestiture follows a comprehensive review of DTB Group’s regional operations. The bank will now concentrate its resources on Kenya, Uganda, Tanzania, and Rwanda, where it maintains a robust presence.
“We remain committed to deepening our footprint and delivering value in markets where we see long-term growth potential,” added Devji.
