Meet Nasim Devji: Kenya’s first female commercial Bank CEO

Nasim Mohamed Devji is a Kenyan accountant and corporate executive whose career is closely linked to one of the country’s longest-running banking institutions. In a sector historically dominated by men, she made history in 2001 as the first woman to lead a commercial bank in Kenya when she took charge of Diamond Trust Bank Group (DTB).

More than two decades later, she remains among the longest-serving chief executives in East Africa’s financial sector, guiding the lender through steady expansion and shifting economic cycles. 

Her leadership has coincided with DTB’s transformation from a Kenya-focused institution into a regional banking group with operations across Uganda, Tanzania and Burundi. Today, the bank is listed on the Nairobi Securities Exchange and operates a network that spans more than 90 branches in Kenya, alongside a growing footprint across East Africa.

Devji builds career on accounting foundation

Devji’s career path reflects a steady rise through technical expertise and operational leadership. After completing her high school education in Tanzania, she pursued further studies overseas in the early 1970s, training in accounting and finance. She later qualified as a Fellow of the Institute of Chartered Accountants in England and Wales, building a professional base that would shape her approach to banking. 

When she returned to Kenya in 1996, she joined Diamond Trust Bank Group as regional financial controller. Her performance in that role led to a rapid promotion. By 2001, she was appointed group managing director and chief executive officer, becoming the first woman in Kenya to lead a commercial bank at that level. 

Alongside her group role, she also serves as chief executive of Diamond Trust Bank (Kenya) Limited and sits on the boards of DTB subsidiaries across Uganda, Tanzania and Burundi. Her board responsibilities extend to insurance and deposit protection institutions, reflecting her wider role in the region’s financial governance landscape.

Her governance experience also spans roles at the Nairobi Securities Exchange and other financial and regulatory bodies in Kenya. 

DTB expands steadily across East Africa

Under Devji’s leadership, DTB expanded carefully across East Africa, prioritising stability over rapid risk-taking. The bank grew its presence in retail banking, small and medium-sized enterprises and mid-market clients, segments that have become central to its business model. 

That strategy has helped the lender remain resilient through periods of economic stress in the region. Rather than aggressive expansion, DTB leaned on controlled lending, strong capital buffers and gradual branch growth. 

In a recent strategic shift, DTB also began recalibrating its footprint. After 16 years of operations in Burundi, the bank completed the sale of its 83.67% stake in DTB Burundi for about KSh 1.27 billion ($9.83 million), a move management described as part of a sharper focus on core markets in East Africa. 

By the end of 2025, DTB reported a customer base of 4.5 million, up from 3.1 million a year earlier. Its branch network stood at 157 locations across East Africa, reinforcing its physical presence even as digital banking expanded. 

Financial performance reflected this approach. Annual profit rose 21 percent to KSh 10.7 billion ($82.8 million) for the year ended December 2025. Total assets increased 15 percent to KSh 659.1 billion ($5 billion), while revenues grew 14 percent. Retained earnings rose to Ksh 71.1 billion ($551 million).

Customer deposits crossed KSh 509 billion ($3.9 billion), while net loans climbed to KSh 324 billion ($2.5 billion), both up 14% year-on-year. 

Devji said the results reflected consistency in strategy rather than short-term gains. “We have delivered quality growth while maintaining discipline and improving efficiency,” she said. “Our investment in digital capabilities is helping us widen access and serve customers more effectively across our markets.”

DTB expands digital, partnerships, growth

In recent years, DTB has increased its focus on digital banking and partnerships to widen its customer reach. 

In 2025, the bank partnered with Airtel Money to improve payment solutions for small and medium-sized enterprises. It also worked with Safaricom on Taasi Till Loans, giving merchants access to business financing through mobile platforms. 

The lender expanded its physical footprint as well, opening new branches in Kitui County, Kilimani in Nairobi and MweaTown, bringing its Kenyan branch count to 92 and its East African total to 161 locations. 

Earlier collaborations include a long-term partnership with Mastercard aimed at accelerating digital transformation across Kenya, Uganda and Tanzania. DTB has also integrated insurance and healthcare payments through a partnership with Jubilee Health Insurance, introducing digital payment systems for policyholders. 

In 2024, the bank became a signatory to the UN Principles for Responsible Banking, aligning its operations with global sustainability standards developed under the United Nations Environment Programme Finance Initiative.

Sustainability, inclusion and community impact 

Beyond financial performance, Devji’s tenure has been marked by a focus on social impact initiatives tied to education, climate action and financial inclusion. 

Through its “Much More Than Trees” programme, DTB has planted more than one million trees, supporting reforestation and climate resilience efforts. Its “Achieve More Girl” initiative has reached over 30,000 girls, focusing on menstrual health and education support across Kenya. 

The bank has also trained more than 10,000 individuals and small businesses in financial literacy and enterprise development, part of a broader effort to strengthen household and community-level resilience. 

In 2026, DTB expanded its digital and youth-focused programmes, including wearable contactless payment solutions and education initiatives targeting thousands of girls across multiple counties. 

Industry recognition has followed. In 2025, DTB received awards for sustainability reporting, social impact and customer service excellence, including recognition for its use of technology and adoption of international reporting standards.

Devji’s recognition and long-term leadership impact

Devji’s leadership has earned external recognition, including a Lifetime Achievement Award from the Women on Boards Network Kenya for advancing women in corporate leadership and her long banking career. 

At DTB, where she has led for more than two decades, the strategy remains focused on steady expansion, digital banking, SME lending and regional integration, backed by strict risk controls. 

As East Africa’s banking sector adapts to digital disruption and regulation shifts, DTB continues to prioritise technology-led growth and continuity over short-term gains.