Central Bank okays Abhinav Nehra as CIB Kenya CEO

Commercial International Bank Kenya has appointed Abhinav Nehra

Commercial International Bank Kenya has appointed Abhinav Nehra as its new chief executive officer and managing director, filling a position that was held by Daphne Maina in an acting capacity.

The position fell vacant in December 2023 after Hossam Rageh left.

Nehra was appointed in April 2024 and has been awaiting CBK approval, which was granted in the past week.

The new CEO brings over three decades of experience in banking and payments across Africa, Asia, and other emerging markets.

CIB Kenya board chairman Tom Gitogo said that the appointment brings in a proven leader with an unparalleled track record of driving growth and innovation.

“His expertise and strategic vision are exactly what CIB Kenya needs to deliver value to our clients and achieve our ambitious goals. We are confident he will steer the bank toward a new era of success,” said Gitogo.

The appointment comes as the bank seeks to strengthen its position in the competitive banking sector and enhance its offerings to customers in Kenya.

The lender has been looking to ride on the trade between Kenyan exports to Egypt to grow its operations regionally.

CIB Kenya found a new sense of direction after the Commercial International Bank (CIB) Egypt acquired Mayfair Bank in Kenya four years ago.

CIB Bank Kenya is a subsidiary of Commercial International Bank, one of Egypt’s leading private financial institutions.

The bank entered the Kenyan market in 2020 and has been steadily growing its footprint by focusing on retail and corporate banking.

According to the lender, Nehra has held key leadership roles at prestigious organisations globally, including CitiGroup, United Bank for Africa (UBA), Network International, and Ecobank Transnational.

Throughout his career, he has spearheaded transformational initiatives in digital banking, consumer finance, digital lending, and payments that have reshaped markets and driven growth.

“I am honoured to join CIB Kenya and excited to lead the bank into its next phase of growth. Together with the talented team here, we will focus on delivering innovative solutions,” said Nehra.