DTB sees off MD Thambi in glamour

Some of the Board Members of DTB join Thambi Varghese, the Outgoing MD DTB to cut cake together with the New CEO, Godfrey Sebaana

HABARI DAILY I Kampala, Uganda I It was all fun and glamour when the Diamond Trust Bank (DTB) bid farewell to Varghese Thambi, its former Managing Director, who had steered the progressive institution for 17 years.

The occasion, which was presided over by Michael Atingi-Ego, the Bank of Uganda Deputy Governor, also brought together officials from the banking fraternity, political class and DTB family.

Atingi-Ego  lauded the former MD for steering the bank through challenging times.

“Such bad times included the global financial crisis and the COVID-19 pandemic. But you stood your ground and ensured that the bank remains profitable. This is a sign of your resilience and vibrant leadership,” he said during a dinner which was held at Kampala Serena hotel recently.

He said under Thambi’s leadership, DTB experienced unprecedented growth.

Micheal Atingi Ego,The Deputy Governor, Bank of Uganda poses for a photo with the Varghese Thambi, Outgoing MD DTB(left) and the New CEO DTB, Godfey Ssebaana (middle) and another official

“The bank was able to expand its branch network. It also introduced innovative digital and remittance solutions to enhance customer accessibility and convenience,” said the BOU boss.

During the 17 years of Thambi’s leadership, he transformed the bank from just three branches to a network of 37 branches across Uganda.

The bank was also able to open three cash collection centers, 56 ATMs, 22 deposit collection machines, and a network of 939 bank agents.

Witnessed was also substantial growth in the bank’s assets, deposits, and net after-tax profits.

In his farewell remarks, Mr. Thambi expressed gratitude to the DTB Uganda Board, staff, and regulatory authorities for their support throughout his tenure.

He hailed the DTB staff as a wonderful group of vibrant, talented, dedicated, connected, and active team.

“They work without looking at the clock. Working with all of you has been one of the most fulfilling experiences of my career,” he said.

Thambi is also credited with growing the bank’s workforce from 60 to more than 680, 99% of whom are Ugandan, with women dominating the gender ratio at 56%.

He also forged partnerships with the Uganda Revenue Authority (URA) for tax collection, and National Water and UMEME for utility collections, a move that has made DTB popular among members of the business community

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