Standard Chartered Bank Kenya has appointed Gladys Warirah as Chief Financial Officer and Executive Director, subject to approval by the Central Bank of Kenya and the Capital Markets Authority, replacing Chemutai Murgor who will exit the role on 31 May 2026.
- •The transition comes ahead of the lender’s FY 2025 audited results and final dividend announcement scheduled for 18 March, closing a year marked by a profit warning and a series of senior leadership changes.
- •Warirah previously held senior finance roles at the Kenyan unit, including Financial Controller, before relocating in 2023 to serve as Country Treasurer in Standard Chartered Malaysia.
- •At the CEO level, Kariuki Ngari is set also to retire after more than two decades at the lender in Kenya and Africa roles, and his successor Birju Sanghrajka's appointment is also subject to regulatory approval.
Warirah brings over 20 years of experience across treasury, finance, governance, and controllership. The bank said her appointment will take effect once regulatory approvals are received. Chemutai Murgor will remain in office through the publication of the FY 2025 audited results.
Murgor departs after more than 25 years at the bank. Beyond her Kenya role, she previously oversaw finance functions across East Africa and later Africa. During her tenure, the bank cited improved balance sheet management, operating efficiency, and technology-led finance transformation.
These top level governance changes come against a weaker earnings backdrop in 2025. The bank issued a profit warning for the year ended 31 December 2025, guiding that net profit would decline by at least 25% from FY 2024, largely due to pension settlement costs recognized during the year.
In FY 2024, Standard Chartered Bank Kenya reported a strong rebound. Profit after tax rose to KSh 20.06 billion from KSh 13.84 billion in FY 2023, while profit before tax increased to KSh 28.21 billion. Net interest income reached KSh 33.27 billion and non-interest income rose to KSh 17.41 billion. Earnings per share climbed to KSh 52.65.
By the third quarter of 2025, pressure was already evident. Profit before tax fell 41 percent year on year to KSh 13.20 billion, while profit after tax declined 38 percent to KSh 9.79 billion. Net interest income dropped to KSh 22.27 billion and non-interest income fell to KSh 10.16 billion, while operating expenses rose to KSh 19.23 billion. Asset quality improved, with gross non-performing loans declining to KSh 9.13 billion from KSh 12.14 billion a year earlier.
The FY 2025 results will confirm the full-year earnings impact, inform the final dividend decision, and set expectations as the bank enters a new leadership phase in 2026.
