Family Bank, one of Kenya’s largest mid-tier lenders, successfully raised just over KSh8 billion in a heavily oversubscribed private share placement, surpassing its KSh6.09 billion target by a wide margin.
The offer closed at 131% subscription, attracting strong demand from pension funds, insurers, fund managers, corporates, and individual investors.
Strategic Use of Funds
The KSh8.004 billion raised will be directed towards:
- Accelerating the bank’s digital transformation agenda
- Expanding lending capacity
- Supporting business growth initiatives in Kenya and across the region
Leadership Statements
CEO Nancy Njau said the overwhelming response underscores investor confidence in Family Bank’s strategy, financial performance, and inclusive banking focus:
“We are deeply grateful to all investors who participated in this landmark capital raise. The additional equity significantly bolsters our capital ratios and will accelerate lending to priority sectors such as MSMEs, green financing, and women- and youth-led enterprises. This successful raise positions Family Bank strongly for sustained growth and enhanced shareholder value.”
Chairman Lazarus Muema added that the results represent a “resounding vote of confidence” in the bank’s resilient business model, consistent profitability, and commitment to serving the real economy, particularly SMEs, agriculture, and underserved communities.
Transaction Advisors
The private placement was executed with Standard Investment Bank (SIB) as lead transaction advisor and placement agent, alongside Sterling Capital.
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