Sidian Bank has announced the appointment of John Okulo as its new Managing Director and Chief Executive Officer, set to take effect on 1 May 2026, pending regulatory clearance.
In a statement issued on 26 March, the bank’s Board confirmed the decision, expressing confidence that Okulo’s leadership will steer the institution into its next chapter of growth and transformation.
Okulo brings nearly three decades of banking experience, having held senior roles across both regional and international institutions. He currently serves as Director of Corporate Banking at KCB Bank Kenya, a role he has held since June 2023.
Prior to that, he was Group Director for Corporate Banking at NCBA Bank Kenya Plc between 2019 and 2023, where he played a key role in shaping corporate banking strategy and driving regional expansion. His earlier roles include Chief Commercial Officer at Commercial Bank of Africa, Managing Director of NC Bank Uganda, and Head of Corporate and Investment Banking at Stanbic Bank Uganda Limited.
His career portfolio also features leadership stints at Barclays Bank, Citibank, and Standard Chartered Bank. He holds a Master of Science in Economics and is widely regarded for his expertise in corporate banking, trade finance, risk management, and strategic execution.
Leadership Transition
The appointment comes as current CEO Chege Thumbi prepares to retire on 30 June 2026 after nine years at the helm. During his tenure, Thumbi oversaw a period of significant transformation, including the expansion of the bank’s trade finance operations, growth of its branch network to 50 outlets, and strengthening of digital banking and foreign exchange income streams.
Also Read: Gov’t Clears Air on USB-C Directive, Says Budget Phones Still Allowed
Under his leadership, Sidian Bank improved operational efficiency, enhanced customer experience, and recorded sustained growth, culminating in its upgrade to Tier II status in September 2025. The Board acknowledged his contributions, noting their lasting impact on the institution, and wished him well in retirement.
Record Financial Performance
Sidian Bank also reported a standout financial year for 2025, posting a record profit after tax of KSh 1.73 billion, a sixfold increase from KSh 287.35 million and the strongest result in its four-decade history.
Total assets rose by 50.8% to KSh 90.80 billion, while customer deposits surged 62.9% to KSh 72.30 billion. Net interest income climbed 54.6% to KSh 4.43 billion, and non-interest income more than doubled to KSh 3.80 billion.
In September 2025, the Central Bank of Kenya upgraded Sidian Bank from a Tier III to a Tier II lender after its market share crossed the 1% threshold for the first time, marking a notable milestone in its growth trajectory.
