Standard Chartered has begun unwinding a dual leadership structure in East Africa after Kariuki Ngari stepped aside from his Africa chief executive role and confirmed plans to retire as Managing Director and Chief Executive Officer of Standard Chartered Bank Kenya Limited in April 2026.
- •In Kenya, the board has appointed Birju Sanghrajka, who currently leads Corporate and Investment Banking Coverage for Kenya as Managing Director and Chief Executive Officer, subject to approvals.
- •Sanghrajka steps into the top Kenya role with more than 26 years at Standard Chartered, having held senior roles across Kenya, the United Kingdom, South Africa, and the United Arab Emirates.
- •Alongside the Kenya succession, Standard Chartered appointed Nigerian banker Dalu Ajene as Chief Executive Officer for Africa, replacing Ngari in the continental role and separating regional oversight from country execution.
Ngari’s retirement closes a 24-year career at Standard Chartered and ends a period in which he combined country leadership in Kenya with a broader Africa mandate. He has led the Kenyan unit since 2019, overseeing a shift toward higher-quality earnings, rising shareholder payouts, and tighter balance-sheet discipline.
During his tenure, profit after tax at Standard Chartered Bank Kenya rose from KSh 8.2 billion in FY2019 to KSh 20.1 billion in FY2024, more than doubling over five years. Earnings per share increased from KSh 21.36 to KSh 52.65, while dividend per share climbed from KSh 12.50 to KSh 45.00, marking a sharp acceleration in cash returns to shareholders.
Balance-sheet growth was more measured. Total assets expanded from KSh 302.1 billion in FY2019 to KSh 384.6 billion in FY2024, though assets peaked in FY2023 before contracting the following year. Net loans and advances rose to KSh 151.6 billion, with growth uneven in the later years as the bank appeared to prioritise efficiency and non-interest income over aggressive credit expansion.
Ngari’s tenure also coincided with an acceleration in digital adoption, with more than 90 percent of transactions now processed through digital channels, and a repositioning of Wealth and Retail Banking toward wealth-focused products, lifting assets under management to broadly match deposits.
