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| Family Bank Finance and Strategy Director Njung'e Kamau, Chairman Wilfred Kiboro and Managing Director Peter Munyiri during the bank's AGM in Nairobi. [PHOTO DAVID NJAAGA] |
NAIROBI, KENYA: Family Bank has asked its shareholders to inject more funds into the business to enable it comply with new prudential guidelines of the Central Bank of Kenya (CBK).
The funds will enable the bank finance its expansion to become a tier-one bank by 2017. Cash is also needed to up-scale the bank’s IT infrastructure as the present one will not be able to service growing customer numbers in the next two years.
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