Christine Kagendo 
Family Bank CEO Nancy Njau, Chief Financial Officer Stephen Ngugi & PwC Senior Manager David Mugo (C) during the 17th AGM where shareholders approved the establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries ahead of expansion plans.
- Family Bank Shareholders Approves Establishment of a Non-Operating Holding Company Ahead of Expansion Plans;
Family Bank Shareholders have approved establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries ahead of expansion plans.
“Regional expansion remains a focus for the Bank in supporting our business growth and expansion strategy. We are exploring the possibility of expanding our footprint to countries within the East, West and Central African region,” said Family Bank CEO Nancy Njau.
“This non-operating holding company will allow for capital efficiency, risk management and establishment of separate governance structures for both banking and our non- banking subsidiaries,” she said.
The approval comes following the Annual General Meeting(AGM) where the shareholders also approved a KES. 723 million dividend pay-out for the financial year ended December
In its recent Financial Results for Quarter 1 2024,the lender posted a KES. 1.3 billion Profit Before Tax for the period ended 31st March 2024, representing a 24.3% growth from a similar period last year.
This growth in Profit Before Tax was mainly driven by an increase in interest income and non-funded income and an expansion of the balance sheet given strategic investment in secure and stable investment avenues and effective asset management even as the economy continued to grapple with the adverse effects of high inflation.
