Family Bank shareholders have approved the lender’s plan to list on the Nairobi Securities Exchange (NSE).
The move is part of the lender’s long-term growth journey towards becoming a Tier One Bank.
The listing, expected in 2026, will be by way of introduction, where the Bank will list its existing shares for trading without raising new capital. This will allow current shareholders to trade their shares freely on the NSE, unlocking liquidity and long-term value.
Speaking during the Extraordinary General Meeting (EGM), Family Bank Board Chairman Lazarus Muema said the move reflects the institution’s strong fundamentals and long-term preparation for market entry.
“As a Board, we have taken time to prepare, to build value, and to ensure that when we list, it is from a position of strength. This listing is not just about prestige but about creating long-term value for our shareholders and positioning the Bank for sustainable growth,” said Muema.
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The approval follows the successful conclusion of a private placement whose results will be disclosed after completion of regulatory formalities. Family Bank CEO Nancy Njau said the decision signals investor confidence and reflects years of disciplined growth and sound balance sheet management.
“Our financial position today reflects years of disciplined growth and sound balance sheet management. We have consistently delivered double-digit growth in profitability, maintained strong capital ratios well above regulatory requirements, and improved our asset quality. This success has been anchored in our commitment to sustainable sectors such as SMEs,” said Njau.
“Listing will not only enhance transparency and governance but also position us for the next phase of our business growth as we continue to deliver value and build confidence among our customers and shareholders,” she added.
Family Bank, a Tier two bank serves more than 1.2 million customers through 6,000 agents and 75,000 merchants. As of December 31, 2024, the bank reported total assets of Sh168.5 billion and deposits of Sh126.4 billion.
The lender first declared intentions to list at NSE in 2023, but the decision was halted following low trading activities that saw investors lose at least Sh530 billion in paper wealth on capital flight as the shilling slid against major currencies.
According to the Capital Markets Authority (CMA) quarterly statistical bulletin for the period ended December 31, 2023, the total market capitalisation at the Nairobi bourse closed at Sh1.43 trillion compared to Sh1.96 trillion same period in 2022.
The listing aims at improving the bank’s tradability of its shares, raising capital to boost the institution’s liquidity, and finance its expansion into other markets.
