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How Family Bank lost Sh23 billion in five days

Family Bank Managing Director David Thuku.

On November 16, 2016, a man walked into a Family Bank branch and demanded to withdraw Sh8 million that he had saved overthe years. This was after rumours spread on social media that the lender would be closed by the Central Bank of Kenya (CBK).

He was not taking no for an answer from the frantic managers who were trying to calm thousands of customers who, like him, wanted their money.

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Family Bank CBK