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Diamond Trust Bank of Kenya to Expand After Raising Capital

Diamond Trust Bank Ltd., a Kenyan lender, is considering expanding into a fifth African country as growing competition at home squeezes margins, Chairman Abdul Samji said.

The bank, based in the Kenyan capital, Nairobi, may enter Madagascar, the Democratic Republic of Congo or South Sudan by 2017, Samji said in an interview yesterday. Diamond Trust last month raised 3.63 billion shillings ($41 million) by selling new shares to existing stockholders.