NAIROBI, Kenya, Jan 22 – Standard Chartered Bank Kenya Managing Director and Chief Executive Officer Kariuki Ngari is set to retire after 24 years with the lender.
In a notice, the bank’s company secretary Judy Nyaga said Ngari’s tenure will end on April 16, 2026.
“During his tenure, he led the Bank’s transformation, significantly accelerating the shift to digital, resulting in over 90 percent of all transactions now being completed digitally across the Bank,” the lender said.
The bank added that shareholders benefited from strong and resilient financial performance during his leadership.
Ngari also led the repositioning of Wealth and Retail Banking from a traditional savings-focused segment to a leading wealth-focused business, supported by world-class products and expertise.
This transformation was reflected in the significant growth of the bank’s Assets Under Management (AUM), bringing them in line with deposits held.
Ngari joined Standard Chartered in 2009 as Executive Director for Kenya and Head of Consumer Banking for East Africa before rising to the top role. Prior to joining StanChart, he served as Retail Banking Director at Barclays.
However, Ngari’s tenure also saw the bank ordered to pay about Sh7 billion to more than 600 former employees after losing a pension miscalculation case at the Supreme Court of Kenya.
The ruling followed the Supreme Court’s dismissal of an application by StanChart seeking to halt a Court of Appeal decision that directed the lender to pay billions in pension dues owed to former staff.
The case originated after the Retirement Benefits Authority (RBA) dismissed the retirees’ claims, prompting them to move to the Retirement Benefits Tribunal. The Tribunal ruled in their favour, ordering the correct computation and payment of pension benefits.
StanChart challenged the ruling at the High Court, which dismissed its petition. The lender then appealed, arguing that the Tribunal lacked jurisdiction and erred by failing to take oral evidence and by ordering the computation of pension benefits.
