Standard Chartered is dismantling its dual leadership structure in East Africa following the exit of Kariuki Ngari from his role as Africa chief executive and his announcement that he will retire as Managing Director and Chief Executive Officer of Standard Chartered Bank Kenya Limited in April 2026.
In Kenya, the board has named Birju Sanghrajka, currently Managing Director and Head of Corporate and Investment Banking Coverage for Kenya, as the next CEO, subject to regulatory approvals. Sanghrajka brings more than 26 years of experience at Standard Chartered, having held senior positions across Kenya, the United Kingdom, South Africa, and the United Arab Emirates.
At the regional level, the bank has appointed Nigerian banker Dalu Ajene as Chief Executive Officer for Africa, taking over from Ngari and formally separating continental leadership from country-level management.
Ngari’s departure marks the end of a 24-year career at Standard Chartered and concludes a period in which he simultaneously led the Kenyan business and oversaw the bank’s Africa operations. He has been at the helm of the Kenya unit since 2019, steering the bank toward stronger earnings quality, higher shareholder payouts, and tighter balance-sheet discipline.
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Under his leadership, profit after tax at Standard Chartered Bank Kenya climbed from KSh 8.2 billion in FY2019 to KSh 20.1 billion in FY2024. Over the same period, earnings per share more than doubled from KSh 21.36 to KSh 52.65, while dividends per share surged from KSh 12.50 to KSh 45.00, significantly boosting cash returns to shareholders.
Balance-sheet expansion was more restrained. Total assets grew from KSh 302.1 billion in FY2019 to KSh 384.6 billion in FY2024, although assets peaked in FY2023 before easing the following year. Net loans and advances rose to KSh 151.6 billion, with growth tapering in later years as the bank appeared to favour efficiency gains and non-interest income over aggressive lending.
Ngari’s tenure also saw a sharp rise in digital adoption, with over 90 percent of transactions now conducted through digital channels. At the same time, Wealth and Retail Banking was repositioned toward wealth-focused offerings, lifting assets under management to levels broadly in line with customer deposits.
