Standard Chartered has confirmed plans for the retirement of Kenya Chief Executive Kariuki Ngari in April 2026, ending a 24-year career at the bank.
The board has appointed Birju Sanghrajka as his successor, subject to approvals, as the lender restructures its Africa leadership model.
The move made on Thursday, marks a significant leadership transition at one of Kenya’s largest international banks and brings to a close a 24-year career at Standard Chartered for Ngari.
Since 2019, he has combined leadership of the Kenyan business with a broader continental mandate, overseeing a period of strategic recalibration and improved financial performance.
In Kenya, the bank’s board has appointed Birju Sanghrajka as Managing Director and Chief Executive Officer, subject to regulatory approvals.
Sanghrajka currently leads Corporate and Investment Banking Coverage for Kenya and will assume responsibility for the bank’s local operations once the transition is complete.
Sanghrajka brings more than 26 years of experience at Standard Chartered, having held senior roles across multiple markets including Kenya, the United Kingdom, South Africa, and the United Arab Emirates.
His appointment signals continuity in leadership as the bank separates regional oversight from country-level execution.
Alongside the Kenya succession, Standard Chartered has appointed Nigerian banker Dalu Ajene as Chief Executive Officer for Africa, replacing Ngari in the continental role.
The change formally separates Africa-wide strategic leadership from the management of individual country franchises, reflecting a shift in how the bank structures its regional operations.
Ngari’s tenure as chief executive in Kenya has been marked by strong earnings growth and a sharper focus on balance-sheet discipline.
Profit after tax at Standard Chartered Bank Kenya rose from Sh8.2 billion in the 2019 financial year to Sh20.1 billion in 2024, more than doubling over five years.
Over the same period, earnings per share increased from Sh21.36 to Sh52.65, while dividend per share climbed from Sh12.50 to Sh45.00.
The growth in dividends reflected a clear shift toward higher and more consistent cash returns to shareholders, supported by stronger profitability and capital discipline.
Balance-sheet expansion during Ngari’s leadership was more measured. Total assets grew from Sh302.1 billion in 2019 to Sh384.6 billion in 2024, although assets peaked in 2023 before contracting slightly the following year.
Net loans and advances rose to Sh151.6 billion, with growth becoming uneven in later years as the bank appeared to prioritise efficiency and non-interest income over aggressive lending.
The period also saw an acceleration in digital adoption across the bank’s operations. More than 90 percent of transactions are now processed through digital channels, reflecting a broader shift in customer behaviour and investment in technology-enabled banking services.
At the same time, the Wealth and Retail Banking business was repositioned toward wealth-focused products.
Assets under management grew to broadly match customer deposits, signalling a strategic tilt toward fee-based income and deeper customer relationships rather than balance-sheet-led growth.
Ngari’s retirement will mark the end of a chapter in which Standard Chartered Kenya pursued tighter cost control, higher-quality earnings, and a clearer capital return strategy.
The appointment of Sanghrajka, alongside the separation of Africa and country leadership roles, points to a new phase focused on execution, stability, and sustained returns in a challenging regional banking environment.
