DTB bids farewell to long-serving managing director Varghese Thambi
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Micheal Atingi Ego, the deputy governor of, Bank of Uganda poses for a photo with Varghese Thambi, Godfrey Ssebaana(middle), and Ibrahim Kalule
The Diamond Trust Bank (DTB) has bid farewell to its former Managing Director, Varghese Thambi, concluding his 17-year tenure with the institution.
Thambi, who began his journey with DTB in 2007, was commended by Michael Atingi-Ego, Deputy Governor of the Bank of Uganda, for his significant role in expanding the bank’s branch network from three to 37 branches across the country.
Atingi-Ego praised Thambi for his leadership during challenging periods, such as the global financial crisis and the COVID-19 pandemic, demonstrating exceptional resilience and strength. He highlighted that under Thambi’s leadership, DTB saw substantial growth, with the establishment of additional cash collection centers, ATMs, deposit collection machines, and a broad network of bank agents.
On May 21 in Kampala, Atingi-Ego remarked that despite numerous challenges, Thambi’s leadership resulted in notable increases in the bank’s assets, deposits, and net after-tax profits. The farewell event also introduced Godfrey Sebaana as the new CEO and Managing Director of DTB. Sebaana expressed his gratitude to Thambi for his mentorship and vowed to continue the bank’s growth and enhance its product offerings to meet the evolving needs of customers. He emphasized DTB’s commitment to becoming a dominant force in the East African Community (EAC) region and beyond.
Sebaana mentioned that the board has plans to introduce innovative products to support traders, manufacturers, and other customers, aiming to provide valuable service. Throughout his tenure, Thambi prioritized community banking and formed strong partnerships with various stakeholders, positioning DTB as a significant player in the industry.
In his farewell speech, Thambi thanked the DTB Uganda Board, staff, and regulatory authorities for their unwavering support. During his time at DTB, Thambi collaborated with over 100 CEOs, several directors at the Bank of Uganda, and multiple board chairpersons. He also played a key role in increasing the bank’s workforce from 60 to over 680 employees, with a notable 56% being women.
