DTB bank reassures its stakeholders all is well

Nasim Devji Group Chief Executive Officer and Managing Director DTB Group has emphasized in a statement that at the moment, no penalty has been imposed by the Central Bank of Kenya.

The bank is currently reviewing the report with a view to providing a detailed response to the issues raised by the Central Bank of Kenya within the stipulated period.

We wish to reassure our stakeholders as a responsible corporate citizen and a regulated entity, DTB respects and complies with all laws and applicable regulatory guidelines. We also wish to confirm that the Bank respects and adheres to the rules and regulations of all the countries in which we operate.

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The bank says it remains committed to providing customers and stakeholders with excellent service coupled with utmost respect while adhering to the banking laws and regulations as stipulated in each of the markets they operate in and global best banking practices.

Also pledged unwavering support to the government in its effort to eradicate corruption and to uphold the integrity of the financial system in order to build a strong stable secure financial system.

DTB has received the report of the Central Bank of Kenya July 2018 inspection report targeted at the National Youth Service banking transactions for 2016 at a meeting held with the Central Bank of Kenya on 10th September 2018.

Further, on 12th September 2018, the bank received a letter outlining the areas of investigations and requesting the bank to respond within the next 14 days on why the monetary penalty it has assessed should not be levied.

The Central Bank of Kenya yesterday indicated that it has penalized five banks a total of Sh392 million for violating financial transaction rules in respect to the handling of the National Youth Service scandal that was exposed this year.

The Banks include Standard Chartered Bank (StanChart), Equity Group, KCB Group, Co-operative Bank of Kenya Ltd, and Diamond Trust Bank (DTB).

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