On June 23,Kenya’s family bank with assets worth KES 230.3 billion ($1.78 billion), has received the Capital Market Authority’s approval to list on the Nairobi Securities Exchange.
On June 23,Kenya’s family bank with assets worth KES 230.3 billion ($1.78 billion), has received the Capital Market Authority’s approval to list on the Nairobi Securities Exchange.
Family Bank is set to list its shares on the Nairobi Securities Exchange (NSE), allowing existing shareholders to trade without the company raising additional capital. This decision follows a successful 2025 private placement where the lender raised KES 8 billion ($61.8 million), comfortably surpassing its KES 6.09 billion ($47.1 million) target.
The listing caps off a five-year effort by the bank to go public. It also provides a welcome boost to the NSE, which has been eager for new listings following a prolonged bear market that saw activity driven primarily by bonds, rights issues, and secondary sales rather than fresh IPOs.
Family Bank Managing Director Nancy Njau stated on Thursday that the listing is the culmination of years of deliberate strategic planning, ensuring the bank enters the public market from a position of financial strength.
Family Bank will join major listed peers like KCB Group, Equity Group, NCBA, and DTB Group. Backed by five years of strong sector performance, banking stocks consistently rank among the most actively traded on the NSE.
This listing will officially establish Family Bank’s public market valuation. Originally founded in 1984 as Family Finance Building Society, the lender obtained its commercial banking license in 2007 and has since grown into one of Kenya’s largest tier-two banks.
Citing a strong balance sheet and capital position, Family Bank stated that no new capital is needed for its NSE debut. The bank’s key shareholders include founder Titus Muya’s family and the Kenya Tea Development Agency, a major institutional backer.
Managing Director Nancy Njau noted that recent capital injections have solidified the bank’s financial health, setting the stage for future growth. According to Njau, the lender is fully geared to execute its 2025–2029 strategic plan, which is built around becoming the go-to bank for local businesses (Biashara).
Family Bank’s public market debut follows a period of record-breaking financial performance. For the first quarter ending March 2026, the lender’s net profit surged 52.6% to KES 1.6 billion ($12.4 million), while total assets expanded by 32.3% to KES 230.3 billion ($1.78 billion). This growth was anchored by customer deposits rising to KES 168.2 billion ($1.30 billion) and net loans increasing 12.6% to KES 108.4 billion ($838 million).
According to here, Standard Investment Bank is the lead transaction adviser, with PwC Kenya serving as the reporting accountant and Mboya Wangong’u & Waiyaki Advocates acting as legal counsel is guiding the bank through the listing process.
