ABDI MOHAMED TAKES HELM AT I&M BANK KENYA, CAPPING 32-YEAR CLIMB FROM TELLER TO CHIEF EXECUTIVE
Veteran banker’s appointment took effect October 5 following Central Bank of Kenya approval; he will lead the Tier 1 lender’s digital, SME and regional growth push
NAIROBI, Kenya (BlackBusinessReview.com) — Abdi Mohamed has formally assumed office as Chief Executive Officer of I&M Bank Limited, Kenya, following approval of his appointment by the Central Bank of Kenya (CBK). The Abdi Mohamed I&M Bank appointment took effect on October 5, 2026, closing a four-month transition that began when I&M Group PLC named him incoming CEO on June 29.
Mohamed arrives from Absa Bank Kenya, where he served as Managing Director and Chief Executive Officer from May 2023 until his resignation took effect on June 30, 2026. The move ends a 32-year career within the Absa Group and its Barclays heritage — a career that began in 1994, when Mohamed joined Barclays Bank Kenya as a teller in Garissa.
From that starting point, Mohamed rose through operations and retail banking roles in Kenya and Zambia, served as Chief Operating Officer of Barclays Bank Kenya, and later as Managing Executive for Retail and Business Banking across Absa’s Africa Regional Operations. He went on to lead Absa Bank Tanzania as Managing Director and CEO, guiding the institution through its historic rebrand from Barclays to Absa and a sweeping business transformation, before returning to Nairobi in May 2023 to take the helm at Absa Bank Kenya.
“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,” said Sarit Raja Shah, Group Executive Director, I&M Group.
“I am deeply honored to join I&M Bank Kenya and to be part of an institution with such a strong heritage, talented people and deep customer relationships,” said Mohamed. “I look forward to working closely with the team, our customers and our partners as we build on the Bank’s achievements and pursue the opportunities ahead. This is a journey we will undertake together, with a continued focus on creating meaningful value for our customers, colleagues and stakeholders.”
Mohamed inherits a lender gathering speed. I&M Group’s half-year results to June 2026 showed net profit up 20.3 percent to KES 9.31 billion, profit before tax up 16.2 percent to KES 13.13 billion, and total equity up 12.1 percent to KES 119.4 billion. Customer numbers were up 42 percent year on year in the first quarter, the group opened 12 new branches, and roughly 90 percent of its retail customers are now digitally active — with about 25,000 new accounts opened each month without a branch visit.
His mandate centers on converting that digital scale into stronger returns: deepening transaction relationships, growing deposits efficiently, expanding SME and retail lending with disciplined underwriting, and extending the group’s regional footprint across Rwanda, Uganda, Tanzania and Mauritius, where subsidiaries contributed 33 percent of group profit before tax in the first half of 2026.
The appointment also sharpens one of East Africa’s most watched banking rivalries. I&M Bank Kenya, with approximately KES 550 billion in assets, is closing the scale gap with Absa Bank Kenya — the institution Mohamed led until weeks ago — at a moment when both banks are racing to build digital ecosystems around the customer’s everyday financial life.
Following Mohamed’s appointment, Kihara Maina — who served as interim CEO of I&M Bank Limited — resumes his role as Regional CEO of I&M Group.
Beyond his executive duties, Mohamed chairs the UN Global Compact Network Kenya, sits on the Kenya Bankers Association Governing Council, and serves on the boards of Integrated Payment Services Limited (IPSL) and Touch Health.
About I&M Bank Limited
I&M Bank Limited is a Tier 1 lender and the Kenyan flagship of I&M Group PLC, with more than five decades of operations across corporate, business and personal banking. The group operates in Kenya, Rwanda, Uganda, Tanzania and Mauritius, serving customers through branches, digital channels and regional subsidiaries.
About Black Business Review
Black Business Review is the premier online destination for news, information and resources on Black-owned businesses and entrepreneurship, covering the leaders, companies and deals shaping Black economic power worldwide.
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