Diamond Trust Bank Says Misreporting by Media Over Row with Ham “a Deliberate Smear Campaign”


Diamond Trust Bank has refuted the “untrue” claims being carried in local media in relation to a dispute between the bank and businessman Hamis Kiggundu (Ham), referring to it as a smear campaign.

The bank maintains that Ham borrowed money from Diamond Trust but failed to repay.

The dispute between Kiggundu and his bankers revolves around loan repayments amounting to about Shs 39bn.

The bank is threatening to attach Kiggundu’s assets, including his palatial residence at Kawuku, Wakiso district and commercial buildings in the city.

The bank argues that Ham received a credit facility totalling over Shs 41bn a few years ago and he still owes them about sh39b. 

Related: Businessman Hamis Kiggundu Sues DTB Bank Over “Irregular Withdrawal” of Shs 100Bn

But Ham accuses the bank of fraudulently siphoning over Shs 200bn from his accounts without his knowledge and consent over the past 10 years.

“Diamond Trust Bank Uganda has noted a trend of inaccurate reporting suggesting that the Bank is not viable owing to an ongoing case,” the Management of Diamond Trust Bank said in a statement.

“We believe this to be a deliberate smear campaign targeted against the Bank”.

“We wish to clarify the facts of the case which are that Ham Enterprises Ltd, along time customer of the Bank, and some of their related entities borrowed money from the Bank which they failed to repay”.

The bank says it commenced a recovery process together with the customer who made proposals on how to settle the account which were agreed upon.

Diamond Trust says Ham Enterprises Ltd filed a suit with untrue claims that the bank never disbursed loans to them among other entities.

“DTB filed a defense in turn and the Bank shall present the evidence in court at the appropriate time,” the Management said, adding it cannot further delve into details since the issue is before court.

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