Editor's Review

The Central Bank of Kenya (CBK) has approved the appointment of Abdi Mohamed as the new Chief Executive Officer (CEO) of I&M Bank. 

The Central Bank of Kenya (CBK) has approved the appointment of Abdi Mohamed as the new Chief Executive Officer (CEO) of I&M Bank. 

In a statement on Monday October 5, I&M Bank announced that Mohamed will formally assume the role following the approval. 

“We are delighted to welcome Abdi Mohamed as our new Chief Executive Officer, following regulatory approval by the Central Bank of Kenya,” read the statement in part. 

Mohamed joins I&M Bank with more than 30 years of experience in the financial services sector, having worked across Kenya and other African markets.

I&M expressed confidence that the new CEO will accelerate the bank’s growth while prioritizing customers and employees and strengthening its Pamoja culture.

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File image of Abdi Mohamed. 

“His leadership will focus on accelerating our growth, putting our people and customers first, and strengthening our Pamoja culture, while delivering sustainable value to our shareholders, communities and the wider economy,” the bank stated. 

The I&M bank board had appointed Mohamed as CEO on June 29 subject to approval by the CBK. 

He joined the lender after leaving Absa Bank Kenya, where he served as Managing Director and Chief Executive Officer.

Before taking over the top role at Absa Bank Kenya, Mohamed served as Managing Director and CEO of Absa Bank Tanzania. 

In that position, he spearheaded the institution's transition from the Barclays brand to Absa while leading a broader transformation agenda. 

Mohamed's previous roles also include serving as Chief Operating Officer at Barclays Bank Kenya and Retail and Business Banking Director in both Kenya and Zambia.

Announcing the appointment, I&M Group Executive Director Sarit Raja-Shah welcomed Mohamed to the organization and expressed confidence in his leadership.

"We are delighted to welcome Abdi to I&M Group at an exciting and important time in our journey as we continue to scale our business, deepen customer relationships, strengthen our market leadership and create sustainable value for all our stakeholders," he said.