Abdi Mohamed has taken over as Chief Executive Officer of I&M Bank Limited, Kenya, after receiving all required regulatory approvals.
I&M Group PLC announced on Monday, October 5, that Mohamed's appointment had been cleared, allowing him to formally assume the position with immediate effect.
His appointment was first announced in June, but was subject to approval by the Central Bank of Kenya (CBK) and other applicable regulators.
The approval brings to an end the transition period during which Kihara Maina served as Interim Chief Executive Officer of I&M Bank while also holding his position as Regional CEO of I&M Group.
I&M Group had appointed Abdi on June 29, following his departure from Absa Bank Kenya, where he had served as Managing Director and Chief Executive Officer.
At the time, the bank said his appointment would only take effect after the regulatory approval process was completed.
Abdi's move to I&M followed the end of a 32-year career within the wider Barclays and Absa banking network.
He became Absa Bank Kenya's managing director and CEO in 2023, after previously serving as Managing Director and CEO of Absa Bank Tanzania.
He also held senior positions within the Barclays network, including Chief Operating Officer at Barclays Bank Kenya and leadership roles in retail and business banking in Kenya and Zambia. His experience covers retail and corporate banking, operations, risk management, digital transformation and strategic leadership across African markets.
I&M Group said Abdi's experience will be central to the lender's next phase of growth.
“The Board is pleased to welcome Mr. Abdi Mohamed 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,” the group said.
The appointment comes as I&M Group continues to expand its financial services operations in Kenya and the wider region.
The group's latest half-year figures show that it recorded Sh13.5 billion in profit before tax in the first half of 2026, representing a 15 per cent increase. Profit after tax rose 22 per cent to Sh10.2 billion, while total operating income increased 23 per cent to Sh33.7 billion.
I&M Group's total assets stood at Sh746 billion, while net loans and advances reached Sh334 billion and customer deposits rose to Sh505 billion. The group also reported that 92 per cent of its customers were digitally active.
The figures provide the backdrop against which Abdi begins his tenure, with the bank expected to build on the group's recent growth while strengthening its position in Kenya's competitive banking sector.
I&M Bank is classified by the CBK as a large commercial bank. The regulator's 2025 banking sector directory lists the institution as having been licensed in 1974 and operating 60 branches.
The bank is part of I&M Group, an NSE-listed financial services group with operations extending beyond Kenya. The group has been pursuing growth through banking, insurance and investment services across East Africa.
I&M explained that Abdi's appointment reflects its confidence in his ability to lead the Kenyan banking business through its next stage of development.
The board also congratulated him on the appointment and said it looked forward to working with him.
“The Board congratulates Mr. Abdi Mohamed on his appointment and is looking forward to working with him to propel our organisation to even greater heights,” the group stated.
He now formally assumes responsibility for I&M Bank after months of waiting for regulatory clearance, completing a leadership transition that began with his appointment in June.
His immediate tenure will therefore begin with the bank already reporting strong group-level financial growth, while facing the wider demands of an increasingly digital and competitive financial services market.