Family Bank has officially rung the bell to mark the commencement of trading of its shares on the Nairobi Securities Exchange (NSE), becoming the largest private sector listing on the Exchange in over 17 years.
Family Bank has listed approximately 1.66 billion fully paid ordinary shares on the Main Investment Market Segment (MIMS) of the NSE at an introduction price of KES. 18.00 per share, representing an implied market capitalisation of KES. 29.9 billion. The Bank listing by way of introduction allows current shareholders to trade their shares on the NSE, broadens investor participation, and enables the market to establish a fair and transparent price for the Bank’s shares
“Kenya’s largest banks are homegrown, and today is a celebration of one. This morning, we have witnessed close to KSh 40 billion in wealth created within minutes of trading, a remarkable testament to what Kenyan enterprises are capable of. We have moved beyond the conversation of small banks, and as the Central Bank, our commitment remains to support and safeguard the growth of banks,” said the Chief Guest, CBK Chairman Andrew Musangi.
The Bank’s decision to list by introduction is underpinned by its strong capital position, as it remains well capitalized and does not seek to raise additional capital. In 2025, the Bank conducted a Private Placement Offer, which successfully raised KES. 8 billion against an initial target of KES. 6.09 billion, representing a 131% achievement.
“Today’s listing is more than a capital markets milestone but a testament to the resilience, growth, and transformation of Family Bank. For over four decades, we have remained committed to empowering individuals, businesses, and communities through accessible financial services. Joining the Nairobi Securities Exchange today marks the beginning of a new chapter defined by enhanced transparency, stronger governance, and greater opportunities for value creation for all our stakeholders,” said Family Bank Chief Executive Officer Nancy Njau.
Family Bank Chairman Lazarus Muema described the listing as a defining moment and a reflection of the confidence that shareholders, customers, employees, regulators, and the broader market have placed in the institution over the years.
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“As a Board, we have always supported listing as it enhances the Bank’s profile, strengthens corporate governance, and provides greater liquidity for our shareholders. Over the last five years, we have closely monitored the price-to-book multiples of listed banks to determine the optimal timing. We are therefore pleased to have reached this milestone and are confident that this will create long-term value for our shareholders,” said Mr. Muema
The listing highlights the Bank’s transformation from a building society to a leading retail-focused financial institution, serving over 1.3 million customers through 96 branches and digital channels nationwide.
“The NSE exists to mobilize capital, facilitate investment, and connect promising enterprises with investors seeking growth opportunities. For many years, market participants have called for more listings, greater market depth, and increased participation from high-quality private-sector issuers. The admission of Family Bank therefore represents the continued strengthening of Kenya’s market architecture and reinforces the position of the NSE as the premier platform for capital formation in East Africa,” said NSE Chairman Kiprono Kittony.
The lead transaction advisors are Standard Investment Bank (SIB), PricewaterhouseCoopers (PwC) as the reporting accountants and Mboya Wangong’u & Waiyaki Advocates as the legal advisors.
Representing Standard Investment Bank, Job Kihumba, Executive Director, Corporate Finance, stated,
“The listing of Family Bank on the Nairobi Securities Exchange marks a significant milestone for both the institution and Kenya’s capital markets. Beyond enhancing the bank’s visibility and access to capital, the listing provides shareholders with greater liquidity and a transparent platform for value realization. As Lead Transaction Adviser, Standard Investment Bank is proud to have successfully executed this landmark transaction, delivering a seamless pathway to the public markets. We believe the listing positions Family Bank to accelerate its growth ambitions while broadening investor participation in one of Kenya’s leading banking franchises.”
