Stanbic Bank Kenya confirmed on Tuesday that Michael Mutiga has been appointed Chief Executive, following receipt of all necessary regulatory approvals from the Central Bank of Kenya.
Mutiga takes over the role from Abraham Ongenge, who had led the bank in an acting capacity since March 2026 and now returns to his substantive role as Head of Personal and Private Banking.
BANK CITES STRONG FIRST-HALF PERFORMANCE
The bank said Mutiga will lead the next phase of growth, building on Stanbic Bank Kenya's first-half 2026 performance, which included approximately Sh6.6 billion in profit after tax and total assets growing 27% to about Sh602 billion.
Board Chair Joe Muganda said Mutiga's experience combining investment banking expertise with strategic leadership in telecommunications positions him to steer the bank forward. Muganda added that the board was confident Mutiga would build on the bank's current momentum to drive sustainable growth, enhance customer experience and deliver value to shareholders.
MUTIGA BRINGS SAFARICOM AND CITIBANK BACKGROUND
Mutiga previously served as Chief Business Development and Strategy Officer at Safaricom PLC, and before that spent about 15 years at Citibank, where he left as Managing Director and Head of Corporate Finance for Sub-Saharan Africa. He also held senior investment banking roles at Barclays, now Absa.
Stanbic Bank Kenya had announced Mutiga's appointment in July 2026, subject to regulatory approval.
Stanbic Bank Kenya is part of Standard Bank Group. Ongenge took up the acting role after Joshua Oigara was named chief executive of Stanbic Holdings Plc in February 2026.