Kenya’s Family Bank secures approval for long-awaited NSE listing

Family Bank, a Kenyan bank with assets worth KES 230.3 billion ($1.78 billion), has received the Capital Markets Authority’s approval to list on the Nairobi Securities Exchange on June 23.

The listing will allow existing shareholders to trade their shares on the NSE without raising new capital. It comes after Family Bank raised KES 8 billion ($61.8 million) in a 2025 private placement, exceeding its KES 6.09 billion ($47.1 million) target.

The move ends the lender’s five-year-long push to go public and comes at a time when the NSE is seeking to attract new listings after a prolonged bear run. Most recent market activity has been driven by secondary share sales, bond issues and rights offers rather than initial public offerings (IPOs).

“The decision for the Bank to list follows years of strategic preparation to ensure we list from a position of strength,” Family Bank Managing Director Nancy Njau said in a statement on Thursday.

Family Bank will now join publicly listed banks including KCB Group, Equity Group, NCBA and DTB Group. The stocks are among the most traded on the NSE, driven by the sector’s strong performance over the past five years, according to NSE data.   

The listing will provide a public market valuation for Family Bank, founded in 1984 as Family Finance Building Society. It secured a commercial banking licence in 2007 and has grown into one of Kenya’s largest tier-two lenders. 

Family Bank said in the statement that it does not need additional capital to support the listing, citing its capital position and balance sheet strength. The lender’s shareholders include founder Titus Muya and his family, as well as the Kenya Tea Development Agency, one of its largest institutional investors.

“Through the capital raising initiatives, we have strengthened our balance sheet and remain confident in our strategy, our capital position, and our ability to deliver sustainable growth and long-term value. The bank is well positioned for growth as per our 2025 – 2029 strategic plan anchored on being The Preferred Bank for Biashara,” said Njau.

The bank is entering the public market after posting its strongest financial performance on record. 

Profit after tax rose 52.6% to KES 1.6 billion ($12.4 million) in the first quarter ended March 2026, while total assets grew 32.3% to KES 230.3 billion ($1.78 billion). Customer deposits increased to KES 168.2 billion ($1.30 billion) and net loans rose 12.6% to KES 108.4 billion ($838 million).

Standard Investment Bank is the lead transaction adviser, while PwC Kenya is the reporting accountant and Mboya Wangong’u & Waiyaki Advocates is the legal adviser.