Stanbic Bank Kenya today announced that Michael Mutiga has officially been appointed as its Chief Executive, following the receipt of all necessary regulatory approvals from the Central Bank of Kenya. Mr. Mutiga will lead the next phase of the bank’s growth, building on its strong H1 2026 performance
Commenting on the appointment, Joe Muganda, Chairman of the Board, Stanbic Bank Kenya, said: “The Board is delighted to confirm Michael’s appointment as our new Chief Executive. Michael is a highly respected leader with an extensive and successful career in banking and finance, both in Kenya and across Sub-Saharan Africa. His unique experience, combining deep investment banking expertise with strategic leadership in the telecommunications sector, uniquely positions him to steer Stanbic Bank Kenya into the future. We are confident he will build on our current momentum to drive sustainable growth, enhance customer experience, and deliver value to our shareholders.”
Mr. Mutiga joins the bank as it reports a resilient financial performance, having posted a KES 6.6 billion Profit After Tax for the first half of 2026, with total assets growing by 27% to KES 602 billion.
“I am honoured and excited to officially lead Stanbic Bank Kenya,” said Michael Mutiga, Chief Executive, Stanbic Bank Kenya. “This is a formidable institution with a rich history in this country and a very strong foundation for future growth. The bank’s recent performance is a testament to the talented team and their commitment to our clients. I look forward to working with my colleagues to deepen our customer relationships, accelerate our digital transformation agenda, and partner with key sectors of the economy to drive Kenya’s sustainable development.”
Mr. Mutiga is a career banker and lawyer with over two decades of experience. He joins Stanbic from Safaricom PLC, where he was the Chief Business Development and Strategy Officer. Prior to that, he spent about 15 years at Citibank, leaving as Managing Director and Head of Corporate Finance for Sub-Saharan Africa. He also held senior roles in the investment banking division at Barclays (now Absa). He holds a Bachelor of Laws from the University of Nairobi and a Master of Laws from Temple University.
Mr. Mutiga takes over the role from Abraham Ongenge, who has led the bank in an acting capacity since March 2026. The Board extends its sincere gratitude to Mr. Ongenge for his steady leadership during the transition period. Mr. Ongenge now returns to his substantive role as Head of Personal and Private Banking.
