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Family Bank appoints advisor for NSE listing as profit surges 56pc
From left: Family Bank Board Chairman, Lazarus Muema, CEO Nancy Njau and Chief Finance Officer Paul Ngaragari during the bank’s Q3 financial results release and investor briefing at Emara Ole Sereni, Mombasa Road, Nairobi, on November 25, 2025.
Photo credit: Wilfred Nyangaresi | Nation Media Group
Family Bank has tapped transactional advisors for its listing at the Nairobi Securities Exchange as it announced a 56 percent increase in net profit for the nine months to September on the back of earnings from government securities.
The bank reported a net profit of Sh3.5 billion, up from Sh2.3 billion in a similar period a year earlier.
The improved performance was on the back of a 43.1 percent jump in interest earned from Treasury bills and bonds to Sh5.5 billion, up from Sh3.8 billion.
The medium sized bank, which has flirted with public listing by introduction for over a decade, plans to sell its shares on the Nairobi Securities Exchange by mid next year, disclosing it had contracted advisors to guide the process.
“We have already visited the Capital Markets Authority so that we know what we need to do and we have engaged transaction advisers to guide us in the journey to listing with a target of the first half of next year,” said the bank’s Chief Finance Officer, Paul Ngaragari.
The bank disclosed it hopes to get approvals from the regulators, Central Bank of Kenya and Capital Markets Authority, by the end of this year.
Listing by introduction means the bank does not plan to raise additional capital with the share sale but instead gives shareholders a trading platform to make their stocks more liquid.
The lender recently concluded a Sh6.2 billion capital raising among existing shareholders in what is referred to as private placement.
Family bank said the private placement was successful but failed to give details, citing regulatory approvals.
“Results of the private placement will be announced next week by the chairman as we are still awaiting regulatory approvals,” said Mr Ngaragari.
Shareholders of the bank approved the listing last month. Top ownership of the bank is dominated by the founder Titus Muya and his family. It also includes the Kenya Tea Development Agency with 16.2 percent stake.
Family Bank reported a 10.1 percent growth of its loan book to Sh103.7 billion at a time when credit expansion had lagged due to a tough economic environment.
Interest income from lending to the private sector jumped 12.1 percent riding on the larger loan book and increased uptake of digital loans which have higher turnovers.
Customer savings with the bank expanded 15.1 percent to Sh147.3 billion, a bulk of which was invested in government securities as credit growth lagged.
Other income of the bank, which reflects earning from trading of government securities, more than doubled to Sh1.2 billion compared to Sh526.4 million a year earlier.
