Diversified financial services firm, I&M Holdings, has announced the appointment of Mr. Kihara Maina to serve as the Chief Executive Officer of I&M Bank Ltd., Kenya with immediate effect.
A seasoned career banker, Mr. Maina, the immediate past Barclays Bank of Tanzania Managing Director, will be taking over from the outgoing I&M Bank Kenya Chief Executive Officer Mr. Arun Mathur who retires after a long and fruitful career with the Bank. Mr Mathur will be assuming an advisory role within the I&M Bank group.
“At I&M Bank, we are excited to welcome Mr. Maina on board, as we further seek to deepen our human resource capacity,” Mr. Shah said, adding that, “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.” 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.
An Executive Master of Business Administration Degree Holder from University of Chicago – Booth School of Business, Mr. Maina is also a BSc Mathematics Degree Holder from Moi University.
Related; I&M Bank announces proposed acquisition by UK’s CDC Group Plc
Last year, I&M Bank Kenya posted a pretax profit of Kes 8.75 Bn with deposits increasing by 18% to hit a new record of Kes 116.79 Bn even as its loans and advances portfolio touched the Kes 114 Bn mark. With an expanding regional branch network of 33 branches in Kenya and profitable operations in Mauritius, Tanzania and Rwanda
Share Price Performance
On Monday, I&M Holdings Ltd closed at Ksh 112.00, 10.40 % below its 1 year high of 125.00, set on Sep 08, 2015.
