Stanbic Bank has announced the appointment of a new Regional Chief Executive for East Africa. In a statement, the bank said that Dr. Joshua Oigara has been appointed as the new Regional Chief Executive, East Africa, for the Standard Bank Group, effective 1st September 2025.
He will also continue his role as Chief Executive Officer of Stanbic Bank Kenya. According to the lender, this appointment is subject to regulatory approval.
Patrick Mweheire, who is currently the Regional Chief Executive (RCE) for East Africa and the Chief Executive Officer for Stanbic Kenya Holdings, will conclude his 5-year tenure as RCE on August 31, 2025, and will continue to hold the role of Chief Executive of Stanbic Kenya Holdings
“Dr. Oigara will continue to serve as Chief Executive of Stanbic Bank Kenya, while taking on the additional RCE responsibilities,” read part of the statement.
“The Leadership team thanks Patrick for his exemplary leadership in building a well-positioned franchise in the East African region and looks forward to his continued impact within the Group,” the statement adds.
Joshua Oigara was appointed as the Chief Executive and Executive Director of Stanbic Bank Kenya Limited on December 1, 2022, and January 1, 2023, respectively.
Profiles
He previously served as Group Chief Executive Officer and Managing Director, KCB Group, for close to ten years. Oigara has, over the last decade, been instrumental in driving growth and development of the banking sector. He also serves as a Non-Executive Director of Stanbic Nominees Limited.
He holds an MBA with a distinction in International Business Management from Edith Cowan University, Australia, a Bachelor of Commerce degree from the University of Nairobi, and is an Advanced Management Programme Graduate from INSEAD, Fontainebleau, France.
Oigara is also a Certified Public Accountant of Kenya, CPA (K), and a member of the Kenya Institute of Bankers (KIB) and the Institute of Certified Public Accountants of Kenya (ICPAK).
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On the other hand, Patrick Mweheire was appointed as the Chief Executive of Stanbic Holdings Plc and Non-Executive Director of Stanbic Bank Kenya Limited on March 3, 2020.
Mweheire previously served as the Chief Executive of Stanbic Bank Uganda Limited from December 2014 until his appointment as Chief Executive of the Company.
He is a professional banker with a career spanning over 20 years. As the Regional Chief Executive, East Africa, for the Standard Bank Group, he was responsible for operations in Kenya, Ethiopia, South Sudan, Tanzania, and Uganda.
Mweheire also served as a Non-Executive Director on the Boards of Stanbic Bank Tanzania Limited, Stanbic Uganda Holdings Limited, and Stanbic Bank Uganda Limited, as a member of the Uganda Chamber of Mines & Petroleum, and as an Advisor of the Presidential Investors Roundtable.
He holds a Bachelor of Science Degree from Daemen College and a Master of Business Administration from Harvard University Graduate School of Business Administration.
Stanbic Bank half-year 2025 results
The new changes by Stanbic Bank come after the lender posted a 9.3% drop in net profit to Ksh6.54 billion for the first half of 2025, as higher costs weighed on earnings. Profit before tax declined by 14.2%.
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The bank’s net interest income fell by 5.8%, while non-interest income edged up by just 0.8%. Loans declined by 14.6%, customer deposits fell by 9.6%, and total assets dropped by 4.9%. Cost-to-income ratio rose to 48.3%.
“Our H1 2025 performance reflects measured progress in a shifting but improving economic environment. While there is a notable recovery from the Q1 performance, these outcomes reflect persistent margin pressure and the broader headwinds facing the industry, including subdued credit growth,” said Joshua Oigara.
Despite the decline in profit, Stanbic doubled its interim dividend per share to Ksh3.80, signaling confidence in future recovery.
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