Family Bank

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Family Bank
Industry Financial services
Founded 1984
Headquarters Nairobi, Kenya
Key people
Dr. Wilfred Kiboro, chairman[1]
David Thuku, managing director & CEO[2]
Products Loans, checking, savings, investments, debit cards
Revenue IncreaseAftertax:US$19.8 million (KES:1.98 billion) (2015)[3]
Total assets US$812.7 million (KES:81.3 billion) (2015)[3]
Number of employees
1,900 (2016)
Website Homepage

Family Bank Limited (FBL), commonly known as Family Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[4]


Family Bank is a medium-sized commercial bank in Kenya. It is the fifth-largest bank by branch network. As of June 2016, the bank had 93 branches in Kenya and a customer base of over 1.8 million. As of 31 December 2015, the bank's total assets were valued at KSh81.3 billion (approx. US$812.7 million), with shareholders' equity of KSh11.9 billion (approx. US$119 million).[3]


The bank was founded in 1984 as Family Finance Building Society Limited (FFBSL). Titus Muya, the former non-executive chairman of Family Bank served as the founding chairman and chief executive officer for the first twenty-three years of the organisation. In 2007, FFBSL became a commercial bank, following the issuance of a banking license by the Central Bank of Kenya, the country's banking regulator. Titus Muya resigned as CEO of the re-branded Family Bank Limited, to comply with current Kenyan banking regulations.[5] Since converting to a commercial bank, FBL has been pursuing an expansion of its branch network.[6]

In 2010, the bank diversified into the insurance industry through a subsidiary Dhamana Insurance Agency.

In 2013, the bank acquired a building in central Nairobi that serves as its headquarters and is currently undergoing renovation to carry its corporate image. This is the same building where founder Mr. TK Muya had rented a small space that served as both a branch and his office.


The shares of stock of FBL are privately owned by institutional and individual investors. In October 2010, a consortium consisting of private equity firm AfricInvest, based in Tunisia, FMO of the Netherlands and Norway's Norfund, acquired a 25% stake in Family Bank for a cash sum of US$14.3 million. Two years later, that stake was sold to two Kenyan corporations, for an estimated price of US$21.3 million (KES:1.84 billion). The company shares are traded over-the-counter, with plans to list on the Nairobi Stock Exchange (NSE) in the future.[7]

As of June 2015, the bank's shareholding was as follows:[8]

Family Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 KTDA Holdings Ltd 15.45
2 The Estate of Rachel Njeri Muya 13.42
3 Daykio Plantations Limited 12.30
4 Titus Kiondo Muya 5.34
5 Standard Chartered Kenya Nominees A/C 9660B 3.73
6 PA Securities 3.57
7 Kenya Orient Insurance Ltd 2.86
8 Julius Brian Kiondo Muyah 2.69
9 Ann Njeri 2.68
10 Mark Keriri 2.68
11 Others 35.27
Total 100.00

Branch network[edit]

The bank maintains a network of nearly 93 branches as of April 2016, with plans to have over 100 networked branches by the end of 2016.[9][10][11]


The chairman of the board of directors is Wilfred D Kiboro, one of the non-executive directors. David Thuku serves as the managing director and chief executive officer.[12]

See also[edit]


  1. ^ Njiru, John (2 November 2012). "Kiboro Joins Family Bank As Chairman". Daily Nation. Retrieved 11 August 2014. 
  2. ^ Juma, Victor (20 June 2011). "Kenya: Ex-KCB Executive To Head Family Bank". Business Daily Africa (Nairobi). Retrieved 11 August 2014. 
  3. ^ a b c Mutegi, Mugambi (29 March 2016). "Family Bank's earnings hit Sh2bn on increased lending and expansion". Business Daily Africa. Nairobi. Retrieved 29 March 2016. 
  4. ^ CBK (29 March 2016). "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Nairobi: Central Bank of Kenya (CBK). Retrieved 29 March 2016. 
  5. ^ FBL, . "Profile of Family Bank Limited". Family Bank Limited (FBL). Retrieved 11 August 2014. 
  6. ^ Langat, Anthony (6 August 2014). "Kenya: Family Bank Outlines Branch Expansion Plans". CAJ News Agency (Johannesburg) via Retrieved 11 August 2014. 
  7. ^ Mutegi, Mugambi (18 December 2012). "Equity Firms Sell Family Bank Stake To KTDA, Laptrust". Business Daily Africa (Nairobi). Retrieved 11 August 2014. 
  8. ^ FB (30 September 2015). "Family Bank MTN - Information Memorandum" (PDF). Family Bank (FB). Retrieved 13 October 2015. 
  9. ^ Otini, Rawlings (19 March 2012). "Family Bank To Spend KSh600 Million On New Branches This Year". Business Daily Africa (Nairobi). Retrieved 11 August 2014. 
  10. ^ FBL, . "The Branch Network of Family Bank Limited". Family Bank Limited (FBL). Archived from the original on 12 August 2014. Retrieved 11 August 2014. 
  11. ^ Mutegi, Mugambi (1 February 2016). "Family Bank to open 10 new branches before end of year". Business Daily Africa. Nairobi. Retrieved 1 February 2016. 
  12. ^ Template:Cite web

External links[edit]