I&M Bank Kenya Appoints Former Absa Boss Abdi Mohamed as CEO

I&M Bank Kenya has appointed former Absa Bank Kenya Chief Executive Officer Abdi Mohamed as its new CEO, subject to approval by the Central Bank of Kenya and other regulatory authorities.

The appointment comes after Mohamed stepped down from Absa Bank Kenya, where he served as CEO for three years.

In announcing the appointment, through a statement on Monday, June 29, I&M Group said Mohamed brings to the bank more than 30 years of experience in banking, financial services and corporate leadership across the continent.

Before leading Absa Bank Kenya, Mohamed served as Managing Director and CEO of Absa Bank Tanzania, where he spearheaded the lender's transition from the Barclays brand to Absa. 

He has also held senior leadership positions, including Chief Operating Officer at Barclays Bank Kenya.

Mohamed, beyond the banking sector, chairs the Kenya chapter of the United Nations Global Compact and serves on the boards of Touch Health Inc and Integrated Payment Systems Limited (IPSL).

I&M Group Executive Director Sarit Raja-Shah said Mohamed's appointment comes at a pivotal time as the bank seeks to accelerate growth and strengthen customer relationships.

"With his extensive experience, proven leadership track record and deep understanding of the financial services landscape, the Board is confident that Abdi is well positioned to lead I&M Bank Kenya into its next phase of growth,” the Group Executive Director stated.

“He will play a critical role in advancing our strategic priorities, driving innovation, and expanding market share. 

In its financial results for the year ended December 31, 2025, I&M Bank reported that its total assets rose to Ksh502 billion, up from Ksh334 billion in 2021, reflecting steady expansion over the four years.

Profit before tax increased to Ksh24.2 billion from Ksh19.8 billion the previous year, while profit after tax reached Ksh18.8 billion.

As part of its expansion plans, the bank also recently issued a Medium Term Note (MTN) programme aimed at raising Ksh20 billion to support its lending activities and expansion plans.

The first tranche sought to raise Ksh10 billion, with a 30% greenshoe option.

Following his departure from Absa, Chief Financial Officer Yusuf Omari was appointed to take over on an interim basis as the lender begins a leadership transition.