I&M Bank Kenya has confirmed Abdi Mohamed as Chief Executive Officer after the Central Bank of Kenya (CBK) approved his appointment. He starts on October 5, 2026, and takes charge of a lender that is adding customers, expanding its branch network and posting rising profit.
Four months from announcement to approval
I&M Group named Mohamed as incoming CEO on June 29, 2026, subject to regulatory approval. The CBK sign off closes a transition period in which Kihara Maina ran the bank as interim CEO alongside his role as Regional CEO of I&M Group. Maina now returns to that regional post full time.
I&M Group Executive Director Sarit Raja Shah welcomed the confirmation.
“The Board is pleased to welcome Abdi to I&M Group and is confident that his extensive banking experience, strong leadership credentials and deep understanding of the Kenyan and regional financial services landscape will be instrumental in leading the Bank through its next phase of growth,” he said.
Mohamed has pledged to work with staff, customers and partners to build on the bank’s record.
A career built from the branch floor up
Mohamed joined Barclays Bank Kenya in 1994 as a teller in Garissa. He moved through operations and retail banking roles in Kenya and Zambia, then led Absa Bank Tanzania, where he guided the shift from the Barclays brand to Absa.
He returned to Nairobi in May 2023 as Managing Director and CEO of Absa Bank Kenya, succeeding Jeremy Awori. His resignation took effect on June 30, 2026, and Chief Financial Officer Yusuf Omari stepped in as interim chief executive while Absa searched for a permanent successor.
The bank he inherits
I&M Group’s half year results to June 2026 show net profit up 20.3 percent to KES 9.31 billion, driven by interest and non interest income. Before minority interest, profit after tax rose 22.4 percent to KES 10.17 billion. Profit before tax grew 16.2 percent to KES 13.13 billion, and equity increased 12.1 percent to KES 119.4 billion. The prior year set the benchmark: the group’s first half 2025 profit of KES 8.3 billion was then its highest for the period.
| Measure | H1 2026 | Change |
|---|---|---|
| Net profit (after minority interest) | KES 9.31 billion | +20.3% |
| Profit after tax | KES 10.17 billion | +22.4% |
| Profit before tax | KES 13.13 billion | +16.2% |
| Total equity | KES 119.4 billion | +12.1% |
| Share of pre tax profit from subsidiaries | 33% | Up from 25% |
Asset quality improved. Gross non performing loans fell 12 percent to KES 30.1 billion, and the net non performing loan ratio dropped to 2.3 percent from 4.1 percent a year earlier.
Customer growth gives Mohamed his clearest mandate. I&M’s first quarter 2026 report showed customer numbers up 42 percent year on year. The group opened 12 branches over that period, and operating expenses climbed 28 percent as a result. Provisions also rose faster than the loan book, so Mohamed must keep growth in step with credit risk.
One of several new chiefs in Kenyan banking
Mohamed’s move fits a pattern. Family Bank, Commercial International Bank Kenya, Stanbic Bank Kenya, Standard Chartered Bank Kenya and Sidian Bank have each named new chief executives since January.
Roles beyond the bank
Mohamed chairs the UN Global Compact Network Kenya and sits on the Kenya Bankers Association Governing Council. He also serves on the boards of Integrated Payment Services Limited (IPSL) and Touch Health.
What to watch next
I&M Bank Kenya is a Tier 1 lender with more than five decades of operations across corporate, business and personal banking. Its next results will show whether Mohamed can hold profit growth while the bank keeps adding customers, branches and provisions.
