Guaranty Trust Bank Kenya is looking for a new managing director after its Nigerian parent recalled Jubril Adeniji at the end of his tenure, triggering a leadership transition at the lender as it seeks to expand its Kenyan presence.
Adeniji will remain in office for the next 90 days while the bank seeks regulatory approval for a successor, the lender said in a statement on Monday. He was appointed to the role in 2023, after previously serving as the managing director of the lender’s Tanzanian subsidiary.
His departure comes after a tenure in which GTBank Kenya sought to strengthen its balance sheet and reposition the business for growth. The bank said it improved the quality of its loan book, tightened internal controls and governance, and began implementing a new strategy to increase market share.
“The Board extends its sincere appreciation to Adeniji for his contribution, leadership and dedicated service,” the bank said.
Originally published by TechCabal.