I&M Bank has confirmed Abdi Mohamed as its new Chief Executive Officer, clearing the final regulatory hurdle for the veteran banker to take charge of the lender’s Kenyan operations.
The bank announced on Monday, October 5, 2026, that Mohamed had received approval from the Central Bank of Kenya (CBK), several months after I&M Group first named him for the position.
Mohamed joins I&M from Absa Bank Kenya, where he served as Managing Director and CEO until June 30. His departure ended a 32-year career with the Absa and former Barclays franchise, during which he held senior roles in Kenya and other African markets.
I&M announced his appointment on June 29, shortly after Absa disclosed his resignation.
His move brings to I&M more than three decades of experience covering retail and corporate banking, operations, risk management, strategy and digital transformation.
Mohamed’s banking career
Mohamed became Absa Bank Kenya’s CEO and Managing Director in May 2023, having previously led Absa Bank Tanzania as Managing Director and CEO.
Before his Tanzania assignment, he held senior management positions within the Barclays and Absa businesses in Kenya, Tanzania and Zambia. His previous roles included Chief Operating Officer and leadership of retail and business banking operations.
Following his departure, Absa appointed Chief Financial Officer Yusuf Omari as interim CEO as it began the process of finding a substantive replacement.
I&M’s next phase
Mohamed takes over at I&M as the bank continues to implement its iMara 3.0 strategy, which has focused on growth, customer relationships and transformation.
I&M said his leadership will focus on driving growth, strengthening customer and employee relationships and reinforcing the bank’s Pamoja culture.
“We are delighted to welcome Abdi Mohamed as our new Chief Executive Officer, following regulatory approval by the Central Bank of Kenya,” I&M said in a statement shared on Monday.
The bank said Mohamed’s experience would be important as it enters its next phase of growth and transformation.
His appointment ends the interim leadership period of Kihara Maina, who had served as I&M Bank Kenya’s interim CEO while continuing as Regional CEO of I&M Group.
Mohamed now assumes responsibility for I&M Bank Kenya as lenders compete for customers through digital services, wider product offerings and stronger business relationships.
I&M said his leadership is expected to support sustainable value creation for customers, employees, shareholders and the wider economy. “We look forward to this next chapter, together,” the lender said.
Leave a comment