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.
The lender’s chief executive Nancy Njau, said regional expansion remains a focus for the bank in supporting its business growth and expansion strategy.
“We are exploring the possibility of expanding our footprint to countries within the East, West and Central African region,” Ms Njau said. “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.”
The approval comes after the bank’s 17th Annual General Meeting that saw shareholders of the financial institution approve a Sh723 million dividend pay-out for the financial year ended December 2023.
