Family Bank shareholders approve listing on NSE

Family Bank's listing on the Nairobi Securities Exchange is expected in 2026. [File, Standard]

Family Bank shareholders have approved the plan to list on the Nairobi Securities Exchange (NSE), marking a significant milestone in the Bank's long-term growth journey towards becoming a Tier One Bank.

The listing, expected in 2026, will be by way of introduction, where the Bank will list its existing shares for trading without raising new capital. This will allow current shareholders to trade their shares freely on the NSE, unlocking liquidity and long-term value.

Speaking during the Bank's Extraordinary General Meeting (EGM), the Board Chairman Lazarus Muema, said the approval reflects the Bank's strong fundamentals and years of strategic preparation.

"As a Board, we have taken time to prepare, to build value and to ensure that when we list, it is 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," he said.

"Over the years, our capital-raising initiatives have been building blocks that have strengthened our balance sheet, modernised our banking infrastructure, and positioned us for the next growth phase. These initiatives have also been a strong vote of confidence by our shareholders," added Muema.

This approval comes as the Bank concludes a successful private placement, who results will be released upon completion of the necessary regulatory reporting formalities.

Family Bank CEO Nancy Njau, noted that the shareholder approval reinforces confidence in the Bank's strategic direction and operational strength.

"Our financial position today reflects years of disciplined growth and sound balance sheet management. We have consistently delivered double-digit growth in profitability, maintained strong capital ratios well above regulatory requirements, and improved our asset quality. This success has been anchored in our commitment to sustainable sectors such as small and medium-sized enterprises (SMEs)," she said.

"Listing will not only enhance transparency and governance but also position us for the next phase of our business growth as we continue to deliver value and build confidence among our customers and shareholders," she concluded.

With shareholder approval secured, the Bank will now move to obtain the necessary regulatory approvals from the Central Bank of Kenya and the Capital Markets Authority before the end of the year to advance its listing plans.