Stanbic Bank Kenya has officially confirmed the appointment of Michael Mutiga as its new Chief Executive following regulatory approval from the Central Bank of Kenya (CBK).

The board first announced Mutiga’s selection in mid-July, positioning him to steer the financial institution into its next phase of growth following strong H1 2026 financial results.

Mutiga is a career banker and lawyer with over two decades of industry experience. He joins Stanbic Bank Kenya from Safaricom PLC, where he served as Chief Business Development and Strategy Officer.

Prior to his role at Safaricom, he spent nearly 15 years at Citibank, eventually rising to Managing Director and Head of Corporate Finance for Sub-Saharan Africa. His career also includes senior positions in the investment banking division at Barclays (now Absa). Over the course of his career, he has earned multiple industry accolades, including being named Corporate Banker of the Year five times.

Academically, Mr. Mutiga holds a Bachelor of Laws (LLB, Honours) from the University of Nairobi and a Master of Laws (LLM) from Temple University. His professional background spans corporate finance, strategy execution, stakeholder engagement, and large-scale operations management.

Commenting on the confirmation, Joe Muganda, Chairman of the Board of Stanbic Bank Kenya, praised the incoming Chief Executive’s background:

“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 takes over leadership at a time of strong financial health for the lender. For the first half of 2026, Stanbic Bank Kenya reported a resilient KES 6.6 billion Profit After Tax, alongside a 27% growth in total assets to Ksh. 602 billion.

He succeeds Abraham Ongenge, who had been serving as Acting Chief Executive since March 2026, a vacancy created when former chief Joshua Oigara stepped up to lead Stanbic Holdings Plc. The Board expressed its sincere gratitude to Mr. Ongenge for his steady leadership during the transition period. With the CBK clearance finalized, Mr. Ongenge returns to his substantive role as Head of Personal and Private Banking.