Sidian Bank has appointed John Okulo as its new Managing Director and Chief Executive Officer, effective May 1, 2026.
In a notice on March 26, Sidian Bank stated that the appointment of John Okulo is subject to regulatory approval.
“The Board of Directors of Sidian Bank Limited is pleased to announce the appointment of Mr. John Okulo as the Managing Director & Chief Executive Officer, effective 1st May 2026, subject to regulatory approval,” read part of the notice.
The Board expressed confidence that his leadership will guide the bank into its next phase of growth and transformation.
Sidian Bank Names John Okulo as New CEO
Okulo brings over 28 years of experience in the banking sector, having held senior leadership roles across regional and international financial institutions.
John Okulo currently serves as Director of Corporate Banking at KCB Bank Kenya, a position he has held since June 2023.
Before joining KCB, he was the Group Director for Corporate Banking at NCBA Bank Kenya Plc from October 2019 to June 2023, where he played a central role in shaping the bank’s corporate banking strategy and regional growth.
Earlier, at Commercial Bank of Africa, Okulo served as Chief Commercial Officer between September 2018 and September 2019.
He also served as the Managing Director of NC Bank Uganda Limited from July 2011 to June 2016, where he successfully led the bank’s operations and growth in the Ugandan market.
Prior to that, he was the Head of Corporate and Investment Banking at Stanbic Bank Uganda Limited from July 2008 to June 2011, overseeing corporate and investment banking functions.
His career also includes leadership roles at Barclays Bank, Citibank, and Standard Chartered Bank.
He holds a Master of Science degree in Economics and is recognized for his expertise in corporate banking, trade finance, risk management, and strategy execution.
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Chege Thumbi Retires
At the same time, the bank announced that its current Chief Executive Officer, Chege Thumbi, will retire on June 30, 2026, after serving for nine years at the helm.
Thumbi is credited with overseeing major transformation initiatives during his tenure, including the expansion of the bank’s trade finance portfolio.
During his tenure, the bank grew its branch network to 50 outlets and strengthened digital banking and foreign exchange income streams.
Under his leadership, Sidian Bank enhanced its operational capacity, improved the customer experience, and achieved sustained growth, culminating in its elevation to Tier II status in September 2025.
The Board thanked Thumbi for his service, noting that his leadership and contributions have had a lasting impact on the institution, and wished him well in his retirement.
Also Read: Stanbic Bank Appoints New Acting CEO
Sidian Bank FY25 Profits
Sidian Bank reported a record profit after tax of KSh1.73 billion for the financial year ending December 31, 2025.
This was a sixfold jump from KSh287.35 million and the strongest performance in its 40-year history.
The total assets increased by 50.8% to KSh 90.80 billion from KSh 60.20 billion, as customer deposits surged 62.9% to KSh 72.30 billion from KSh 44.38 billion.
Net interest income rose sharply by 54.6% to KSh 4.43 billion, while non-interest income more than doubled to KSh 3.80 billion, up from KSh 1.73 billion in the previous year.
In September 2025, the Central Bank of Kenya upgraded Sidian Bank from a Tier III (small) to a Tier II (medium) lender after its market share exceeded the 1% mark for the first time.
