I&M Group PLC has appointed seasoned banker Abdi Mohamed as the next Chief Executive Officer of I&M Bank Kenya, subject to approval by the Central Bank of Kenya (CBK).
The appointment was announced in a notice to shareholders issued on Monday, marking a significant leadership transition for one of Kenya’s leading financial institutions.
Mohamed joins I&M Bank from Absa Bank Kenya PLC, where he served as Chief Executive Officer and Managing Director, overseeing the lender’s operations and growth strategy in the highly competitive Kenyan banking sector.
According to the Board, Mohamed brings more than three decades of experience in banking and financial services, having built an extensive career across multiple African markets.
His experience spans retail banking, corporate banking, operations management, risk management, digital transformation and strategic leadership.
Over the years, Mohamed has held several senior executive roles within the Absa and Barclays banking franchises.
Among his previous assignments was serving as Managing Director and Chief Executive Officer of Absa Bank Tanzania, where he led the lender’s operations and expansion efforts in the country.
He also served as Chief Operating Officer at Barclays Bank Kenya and previously oversaw retail and business banking operations in both Kenya and Zambia.
The Board said Mohamed’s wealth of experience and understanding of African financial markets made him the ideal candidate to lead I&M Bank Kenya into its next chapter.
“The Board of I&M Group PLC is pleased to announce the appointment of Abdi Mohamed as the Chief Executive Officer of I&M Bank Limited. His appointment remains subject to the approval of the Central Bank of Kenya,” the notice to shareholders stated.
The Board expressed confidence that Mohamed’s leadership credentials and strategic vision would help the bank achieve its long-term ambitions.
“The Board is confident that Mr Mohamed’s extensive experience, strategic leadership and deep understanding of the financial services sector will guide the Bank as it embarks on its next phase of growth and transformation,” the statement added.
The announcement comes at a time when banks across the region are investing heavily in digital banking, innovation and customer experience to remain competitive in an evolving financial landscape.
I&M Bank has in recent years expanded its regional footprint while strengthening its digital banking platforms and corporate banking business.
The lender also confirmed that Kihara Maina will continue serving in his dual role as Interim Chief Executive Officer of I&M Bank Kenya and Regional CEO of I&M Group during the transition period.
According to the Board, Maina will remain in office until the Central Bank of Kenya completes the regulatory approval process required before Mohamed can formally assume office.
The arrangement is expected to ensure continuity in leadership and maintain stability within the bank as the transition progresses.
Maina has played a key role in steering the institution during the interim period while also overseeing the wider regional operations of I&M Group.
The Board thanked him for his continued leadership and support during the succession process.
“The Board is pleased to welcome Mr Abdi Mohamed to I&M Bank and wishes him the very best in his role,” the statement concluded.
Mohamed’s appointment is expected to attract significant attention within Kenya’s banking sector given his extensive track record and experience leading major financial institutions across East Africa.
Industry observers will be watching closely to see how his leadership shapes the future direction of I&M Bank Kenya as the lender pursues growth opportunities in an increasingly digital and competitive market.