[2] The bank dates to 1945, when it was operating as the Diamond Jubilee Investment Trust (DJIT), with its head office in Dar es Salaam, Tanzania, and branches in Mombasa, Kenya and Kampala, Uganda.

The company was initially established as a community-based finance house, dedicated towards the extension of credit to the East African Ismaili Community and the mobilization of their savings.

In 1972, Diamond Trust (Uganda) Limited (DTU) commenced operations as a non-bank financial institution.

[5] In 1995, the institution was recapitalized with the participation of the Aga Khan Fund for Economic Development and Diamond Trust Bank (Kenya) Limited.

[5] DTBU is a member of the Diamond Trust Bank Group, a large financial services provider with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.