Absa Bank Kenya has appointed Yusuf Omari as its Managing Director and Chief Executive Officer with immediate effect, confirming him in the role after more than two months as interim chief executive.
The Board said the appointment followed receipt of all required regulatory and internal approvals.
Mr Omari has been Interim Managing Director and CEO since July 1, having previously served as the Bank’s Chief Financial Officer since 2009. He brings more than two decades of experience in finance, treasury, risk management, governance, strategy and executive management.
As CFO, he is credited with strengthening the Bank’s financial performance, improving its cost-to-income ratio and optimising capital, while supporting growth across Absa Kenya’s Corporate and Investment Banking, Business Banking and Consumer Banking units. He also drove initiatives in digital transformation, ecosystem banking and sustainability.
Absa Bank Kenya chairman Mohammed Nyaoga said Mr Omari’s appointment reflected his ability to lead and deliver sustainable growth. “His extensive experience across the Bank, deep understanding of the Kenyan market, and strong track record of working with customers, colleagues, regulators and other stakeholders position him strongly to lead Absa Bank Kenya into its next chapter,” Mr Nyaoga said.
Saviour Chibiya, Absa Group’s Regional Executive for East Africa, said Mr Omari had made a significant contribution to the business. “We have every confidence in Yusuf as he takes on the leadership of Absa Bank Kenya and wish him every success in this important role,” Mr Chibiya said.
Mr Omari said he was honoured by the confidence placed in him by the Board and Absa Group. “Absa Bank Kenya has a strong foundation, an exceptional team and an important role to play in supporting Kenya’s economic growth and development,” he said, adding that his focus would be on deepening customer relationships, accelerating growth and investing in the Bank’s people.
He holds a degree in Economics and an MBA, and is a Fellow of the Institute of Certified Public Accountants of Kenya. He is also a graduate of the Advanced Management Programme delivered by Strathmore Business School and IESE Business School.
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