I&M Bank taps former Barclays executive as new CEO

I&M Bank has appointed Kihara Maina as its new chief executive taking over from Arun Mathur who retires after 14 years at the helm.

Mr Maina joins the bank from Barclays Tanzania where he served in a similar capacity.

The management change comes a time the bank is strengthening its corporate governance and human resource capacity ahead of expansion.

I&M Holdings Executive Director Sarit Raja- Shah says the new CEO will be charged with accelerating the bank’s drive to attain a tier one bank status with the introduction of innovative products and services.

“This is also an exciting phase of growth for I&M Bank Kenya, as it continues to pursue an aggressive growth agenda spearheaded by a dynamic team of professional managers and robust staffers,” Mr Shah said on the appointment.

The bank has over the years been increasingly focusing on a relationship based approach to banking, helping nurture relationships with some of Kenya’s fastest growing corporate organizations.

Prior to joining I&M Bank Kenya, Mr Maina has enjoyed a successful banking career over the last 23 years in various senior management positions. He brings on board a wealth of experience, gained on various banking fronts including treasury management, corporate finance, risk, asset and liability management.

“I am delighted to join I&M Group and be part of the next phase of their exciting growth story. I recognize the excellent work that the dedicated team at I&M have done to build such a strong and well perceived brand that continues to attract customers and clients,” Mr Maina said on his appointment.

I&M Bank Kenya posted a pre-tax profit of Sh8.75 billion in 2015, with deposits increasing by 18 percent to Sh116.79 billion.