Guaranty Trust Bank (GTBank) Kenya Managing Director Jubril Adeniji is set to step down after completing his three-year tenure, following his recall to the group’s parent bank in Nigeria.
The lender said Adeniji will remain in office for the next 90 days to oversee a smooth leadership transition as it finalises the appointment of a new managing director, subject to regulatory approval. The bank has not disclosed who will succeed him or the role he will assume within Guaranty Trust Holding Company.
According to sources familiar with the matter, the leadership change comes amid concerns over the Kenyan subsidiary’s continued weak performance and questions about its long-term growth strategy.
In a statement released on Monday, GTBank said Adeniji would continue serving during the transition period to ensure an orderly handover while the bank completes the recruitment process and secures the necessary approvals.
Adeniji took charge of GTBank Kenya in 2023 after serving as the founding managing director of GTBank Tanzania. Having joined the bank in Nigeria in 2006, he held several senior positions in commercial and international banking before helping establish the group’s Tanzanian operations in 2015.
He was appointed managing director of the Tanzanian subsidiary in 2016 and oversaw its launch ahead of receiving an operating licence in late 2017. He later moved to Kenya to spearhead the expansion of GTBank’s East African business.
During his tenure, the board says he strengthened the bank’s governance framework, enhanced the quality of its loan book, tightened internal controls and laid the foundation for growing the lender’s market presence.
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One of the most notable gains under his leadership was the improvement in asset quality. Gross non-performing loans fell sharply to KSh1.03 billion at the end of 2025 and remained stable at KSh1.02 billion in March 2026, down from KSh2.72 billion a year earlier.
Customer deposits rose 8.2 percent year-on-year to KSh19.27 billion by March 2026, while the net loan book expanded 12.3 percent to KSh2.92 billion. However, the bank’s total assets declined 8.7 percent to KSh31.34 billion.
Financial performance weakened in the opening quarter of 2026, with profit after tax dropping 38.3 percent to KSh80.5 million from KSh130.3 million in the same period a year earlier. For the full 2025 financial year, GTBank posted a profit after tax of KSh396.5 million and a profit before tax of KSh573 million.
Adeniji also oversaw several strategic initiatives, including the rollout of the GTExpress agency banking partnership with Posta Kenya, which initially covered 46 locations nationwide. The bank further introduced the women-focused GTMalkia account and waived PesaLink transfer fees on selected low-value transactions.
