DTB’s Varghese Thambi: In 2022, we laid a solid foundation for DTB’s future, a financial technology-led and beyond-banking future In 2022, Diamond Trust Bank Uganda reported yet another good year. Deposits grew by 25% from UGX1.5 trillion in 2021 to UGX1.88 trillion⏤ an increase of UGX375.6 billion. The bank also reported that it extended 15.8% more credit than it did in 2021, extending some UGX791.3 billion in loans, to retail, SME and corporate clients, up from UGX 683.4 billion in 2021. Growth in lending fuelled a 14.9% growth in income from UGX19.5 billion to UGX224.6 billion. Growth in income, combined with prudent cost management, saw net profit grow by 16.2% from UGX30.8 billion in 2021 to a new high of UGX35.8 billion. Double-digit rises in deposits, lending, income and profits drove a 20.1% rise in assets, from UGX2.01 trillion to UGX2.42 trillion ⏤ a growth of UGX406.2 billion. This was all underpinned by a 17% year-on-year growth in customer deposits. As a result, the bank is now the 7th largest by deposits; 8th largest by assets and lending, as well as the 9th largest by income and profitability. In this thought leadership opinion, Varghese Thambi, the bank’s Chief Executive Officer, under whom the bank has flourished, gives context to the 2022 performance and what it portends for the future.