Diamond Trust Bank sustained its solid growth momentum with first quarter 2011 results indicating Profit
before tax growth of Kshs 225 million, or 63%, to stand at Kshs 580.7 million (1Q 2010: Kshs 355.6 million).
In line with the growth, Profit after tax was up by 57% to Kshs 519.8 million (1Q 2010: Kshs 326 million),
reflecting an improved Earnings Per Share of Kshs 3.19 (1Q 2010: Kshs 2.00). Total assets expanded by
23% to Kshs 88.49 billion, of which net advances stood at Kshs 57.4 billion while customer deposits totaled
Kshs 69.6 billion. Looking ahead, we believe that the bank remains on course to delivering yet another solid
year spurred by growing transactional volumes and improving revenues from regional operations. With a
trailing P/E of 9.5x, despite the bank still trading cum-all (Dividend {Kshs 1.60 per share} and Bonus {1 for
every 5 held}), the bank remains fairly priced

2Q might be harder than 1Q for most banks

1) Reduced income from Bond Trading [Drop in values since interest rates have risen]
2) 1Q momentum is slower as inflation hits!