Family Bank, a prominent Kenyan financial institution with assets totaling KES 230.3 billion (approximately $1.78 billion), has officially received the green light from the Capital Markets Authority to list on the Nairobi Securities Exchange (NSE) starting June 23.
This listing will enable current shareholders to trade their shares on the NSE without the need for raising new capital. The approval follows a successful private placement in 2025, where Family Bank raised KES 8 billion (around $61.8 million), surpassing its initial target of KES 6.09 billion ($47.1 million).
The decision marks the end of a five-year effort for the bank to go public and comes at a crucial time as the NSE looks to attract new listings following a lengthy bear market. Recent trading activity has largely revolved around secondary share sales, bond issues, and rights offers, rather than initial public offerings (IPOs).
“The decision for the Bank to list follows years of strategic preparation to ensure we list from a position of strength,” stated Family Bank Managing Director Nancy Njau in a recent announcement.
With this listing, Family Bank will join other publicly traded banks such as KCB Group, Equity Group, NCBA, and DTB Group, which have been among the most actively traded stocks on the NSE, thanks to the sector’s robust performance over the past five years, according to NSE data.
The listing will also provide a public market valuation for Family Bank, which was established in 1984 as Family Finance Building Society and transitioned to a commercial bank in 2007, evolving into one of Kenya’s largest tier-two lenders.
Family Bank emphasized that it does not require additional capital to facilitate the listing, pointing to its solid capital position and strong balance sheet. Key shareholders include founder Titus Muya and his family, along with the Kenya Tea Development Agency, one of its major institutional investors.
“Through our capital-raising initiatives, we have fortified our balance sheet and remain confident in our strategy, capital position, and our capacity to deliver sustainable growth and long-term value. The bank is well-positioned for growth as outlined in our 2025 – 2029 strategic plan, which is focused on becoming The Preferred Bank for Biashara,” Njau added.
Family Bank is entering the public market after achieving its strongest financial performance to date. In the first quarter ending March 2026, profit after tax surged by 52.6% to KES 1.6 billion ($12.4 million), while total assets increased by 32.3% to KES 230.3 billion ($1.78 billion). Customer deposits rose to KES 168.2 billion ($1.30 billion), and net loans climbed by 12.6% to KES 108.4 billion ($838 million).
Standard Investment Bank is serving as the lead transaction adviser, with PwC Kenya acting as the reporting accountant and Mboya Wangong’u & Waiyaki Advocates providing legal counsel.
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