Family Bank shareholders on Monday approved the lender’s plan to list on the Nairobi Securities Exchange (NSE), a strategic move aimed at propelling the bank towards Tier One status.
The listing, which was greenlit during an Extraordinary General Meeting (EGM) in Nairobi, is anticipated to take place in 2026.
The bank will seek to list its existing shares by way of introduction, a method that does not involve raising new capital. This process will allow current shareholders to trade their shares freely on the public market, a move the bank says will unlock liquidity and long-term value.
Board Chairman Lazarus Muema told shareholders the approval follows years of strategic preparation to ensure the bank lists 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,” Mr. Muema said.
He added that previous capital-raising initiatives served as building blocks that strengthened the bank’s balance sheet and modernized its infrastructure, positioning it for its next growth phase.
Family Bank CEO Nancy Njau stated that the shareholder approval reinforces confidence in the bank’s strategic direction and strong financial position. She highlighted the lender’s consistent double-digit growth in profitability, strong capital ratios, and improved asset quality, anchored by its focus on the SME sector.
“Our financial position today reflects years of disciplined growth and sound balance sheet management,” Ms. Njau said. “Listing will not only enhance transparency and governance but also position us for the next phase of our business growth.”
The EGM approval comes shortly after the bank concluded a successful private placement, the results of which are pending regulatory formalities.
With shareholder approval secured, Family Bank will now move to obtain the necessary regulatory green light from the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) before the end of the year.
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