Family Bank eyes expansion in counties with bond funds

Family Bank plans to expand its presence to all 47 counties as it gears up for tier-1 status in the next three years, with the drive being funded by the proceeds of its corporate bond that started trading on the Nairobi Securities Exchange (NSE) on Wednesday.

The tier-II bank said it would use the funds to increase its branch network from the current 92 outlets in 37 counties, widening its presence and customer base as it also considers an initial public offering proposal.