I&M Bank Kenya Announces CEO Transition: Kihara Maina to Lead in Interim Role

Kenya, 8 November 2025 - I&M Bank Kenya’s Board of Directors has announced a change at the helm of its top leadership: Gul Khan, who has served as CEO of I&M Bank Kenya, will step aside to pursue other interests. The Board has appointed Kihara Maina, currently Regional CEO at I&M Group, as Interim CEO of I&M Bank Kenya, pending regulatory approval.

“We have full confidence in Kihara’s ability to steer the Bank during this transition … our operations and service commitments remain uninterrupted,” the Board said in its announcement.

What’s Happening

Kihara Maina brings a long banking career to the role. Having previously served as CEO of I&M Bank Kenya, he moved into the regional role at the Group level in 2023.  His appointment comes at a time when I&M is deepening its focus on digital banking, SME expansion and regional growth.

Gul Khan has led the Kenyan unit through recent years, advancing digital services and retail banking innovations. With this transition, I&M is signalling continuity but also the potential for strategic refresh.

Leadership transitions at major banks attract attention for good reason: they can influence strategic direction, investor sentiment, regulatory engagement and customer confidence. I&M Bank is a key player in Kenya’s banking sector, changes at the top can reflect shifts in product focus, market positioning or governance.

For customers and staff, the announcement aims to reassure that business will continue as usual. For markets and analysts, the interim appointment raises questions about what strategic priorities might shift, especially around digital transformation, regional expansion and retail banking growth.

What’s To Look Out For

Beyond the announcement, several factors will shape how this leadership transition unfolds. The first is regulatory approval, the appointment of Kihara Maina as Interim CEO is still subject to clearance by the Central Bank of Kenya (CBK), and the timeline for that process will be closely watched by market players and investors.

Equally important is whether Maina will refresh the bank’s strategy. Under his guidance as Regional CEO, I&M strengthened its SME portfolio and invested heavily in digital innovation and cross-border banking services.

Observers will be keen to see whether these priorities deepen or shift as he resumes day-to-day leadership of the Kenyan business.

Investor and customer confidence will also play a crucial role. Shareholders and depositors are expected to monitor how the transition is handled, how communication flows between management and clients, and whether the bank maintains its steady growth trajectory in a highly competitive market.

Finally, there is the question of succession permanence. Since Maina’s appointment is currently interim, analysts say the market will be eager to know whether he is being positioned for a longer-term role or if the Board will open the process to other contenders once the transition period stabilizes.

The appointment of Kihara Maina as Interim CEO of I&M Bank Kenya is more than a headline change. It comes at a time of strategic opportunity and competitive intensity in Kenya’s banking sector. With digital banking, SME finance and regional growth as battlegrounds, this leadership shuffle sets the stage for how I&M intends to navigate the next frontier. Continuity is rightly emphasized, but banks never stand still, and the signal to employees, customers and investors is clear: I&M is entering a new phase of leadership in a period of change.