Tier II lender Sidian Bank has officially appointed John Okulo as its new Managing Director and Chief Executive Officer. John Okulo is a seasoned veteran from KCB Bank, and will succeed Chege Thumbi, who is set to retire on June 30, 2026, after a transformative nine-year tenure.
Sidian Bank in the last 9 years
Under the leadership of Chege Thumbi, Sidian Bank saw its physical and financial footprint expand dramatically as he steered the institution toward its reclassification as a Tier II lender in September 2025. During his nine-year tenure, the bank’s branch network expanded from 30 to 50 locations, while total assets nearly grew fivefold from KES 19.30 billion at the start of his term to over KES 90.8 billion by the close of FY 2025.
This growth was further bolstered by a trade finance portfolio that expanded by over 600%, becoming a core pillar of the bank’s competitive edge. Additionally, Thumbi solidified the bank’s operational strength by overseeing the build-out of digital banking and foreign exchange income streams, effectively sharpening Sidian’s capabilities and resilience in a modernizing financial market.
Thumbi’s final full year at the helm delivered the strongest financial results in the bank’s 40-year history. Sidian Bank’s after-tax profit skyrocketed by 500% to KES 1.74 billion for the year ended December 31, 2025, up from KES 287.4 million in the previous year.
Okulo Brings 3 Decades Experience to Sidian
John Okulo joins Sidian Bank with nearly 30 years of banking experience across regional and international banks, including Standard Chartered, Barclays, Citibank, and Stanbic Holdings. He most recently served as the Director of Corporate Banking at KCB Bank Kenya, where he managed one of East Africa’s largest corporate banking portfolios.
John Okulo is widely recognized for his ability to scale operations. Notably, he founded and scaled NC Bank Uganda (now part of NCBA) from a greenfield operation into a fully operational commercial bank. His expertise in corporate banking, trade finance, and risk management aligns perfectly with the mid-to-large corporate segments that currently drive Sidian’s balance sheet.
The Board of Directors expressed high confidence that John Okulo’s strategic depth will lead the bank into its next phase of growth. His arrival coincides with a wholesale governance reset; in October 2025, former Cabinet Secretary James Macharia became the board chairman, and the long-term dominant shareholder, Centum PLC, exited the bank entirely in March 2026.
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