Family Bank, which has traded on the Over-The-Counter (OTC) market since 2006, now plans to sell shares on the Nairobi Securities Exchange (NSE) through an initial public offering in 2026, following shareholder approval.
The lender has not disclosed the value of shares to be offered or their price, but said current shareholders will be able to trade their shares freely on the NSE. As of a May 2025 report, the bank was valued at Sh 18.7 per share based on its prevailing OTC price.
“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,” said Lazarus Muema, the Board Chairman, during an Extraordinary General Meeting (EGM) held on Monday, October 27, 2025.
The sale of shares on the NSE will be by way of introduction, where the lender lists its existing shares for trading without raising new capital.
With shareholder approval secured, the bank will now seek the necessary regulatory approvals from the Central Bank of Kenya and the Capital Markets Authority before the end of the year to advance the listing plans.
“Over the years, our capital-raising initiatives have been building blocks that strengthened our balance sheet, modernized our banking infrastructure, and positioned us for the next growth phase. These initiatives have also been a strong vote of confidence by our shareholders,” Muema said, adding that the approval reflects the bank’s strong fundamentals and years of strategic preparation.
The listing will not only end a long drought of new listings on the Kenya bourse but also mark a significant milestone in Family Bank’s long-term journey toward becoming a Tier One Bank.
“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 SMEs,” said Family Bank CEO Nancy Njau, noting that shareholder approval reinforces confidence in the bank’s strategic direction and operational strength.
“Listing will not only enhance transparency and governance but also position us for the next phase of business growth as we continue to deliver value and build confidence among our customers and shareholders,” she added.
