I&M Group appoints Abdi Mohamed as CEO of I&M Bank Kenya

I&M Group has appointed seasoned banker Abdi Mohamed as the new Chief Executive Officer of I&M Bank Kenya, subject to approval by the Central Bank of Kenya.

In a statement released on Monday, the group said Abdi joins the bank from Absa Bank Kenya, where he served as Chief Executive Officer and Managing Director, leading the lender’s growth and transformation agenda.

Abdi brings more than 30 years of experience in banking, financial services and corporate leadership. Before heading Absa Kenya, he served as Managing Director and CEO of Absa Bank Tanzania, where he oversaw the transition from Barclays to Absa and led the bank’s transformation strategy.

He has also previously served as Chief Operating Officer at Barclays Bank Kenya and held senior retail and business banking roles in both Kenya and Zambia.

I&M Group Executive Director Sarit Raja-Shah hailed Abdi's appointment to the lender.

“We are delighted to welcome Abdi to I&M Group at an exciting and important time in our journey as we continue to scale our business, deepen customer relationships, strengthen our market leadership and create sustainable value for all our stakeholders,” said I&M Group Executive Director Sarit Raja-Shah.

The group said Mohamed will help drive innovation, deepen customer relationships and expand the bank’s market share as part of its long-term growth strategy.

During Mohamed’s tenure at Absa, the bank focused heavily on digital transformation, operational efficiency, and diversification of income streams beyond conventional lending.

Under Mohamed's leadership, the Absa expanded its footprint in insurance, asset management, brokerage, and pension-related services, helping improve profitability and strengthen its position in Kenya’s financial industry.

The bank pushed hard into non-traditional revenue streams as interest income came under pressure from Central Bank of Kenya policy actions.

Bancassurance, asset management, and brokerage grew from just 1 percent of total revenue in 2024 to 5.0 percent in 2025, with the bancassurance business alone posting a 37 percent year-on-year revenue increase in 2025.

The bank also relaunched its custody business in May 2025, tapping into Kenya's pension industry, where assets under management now stand at Sh2.8 trillion.

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