The Capital Markets Authority (CMA) approved the listing, which is scheduled for June 23. Unlike a traditional initial public offering (IPO), the move will allow existing shareholders to trade their shares on the NSE without the bank raising fresh capital.
The listing comes months after Family Bank raised KES 8 billion ($61.8 million) through a private placement in 2025, surpassing its KES 6.09 billion ($47.1 million) target. The capital raise strengthened the bank’s balance sheet ahead of its market debut.
The approval brings to a close a five-year effort by the lender to secure a place on the bourse. It also provides a boost for the NSE, which has struggled to attract new listings in recent years as market activity has largely been driven by secondary share sales, bond issuances, and rights offers rather than new public offerings.
“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.
Once listed, Family Bank will join a group of publicly traded lenders that includes KCB Group, Equity Group Holdings, NCBA Group and DTB Group. Banking stocks remain among the most actively traded counters on the NSE, supported by strong sector performance over the past several years.
Founded in 1984 as Family Finance Building Society, Family Bank obtained a commercial banking licence in 2007 and has since grown into one of Kenya’s largest tier-two lenders. The bank now manages assets worth KES 230.3 billion ($1.78 billion).
The listing will also provide a transparent market valuation for the lender, whose shareholders include founder Titus Muya and his family, alongside institutional investors such as the Kenya Tea Development Agency.
Family Bank said it does not require additional capital as part of the listing process, citing a strong capital base and healthy balance sheet.
“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,” Njau said. “The bank is well positioned for growth as per our 2025–2029 strategic plan anchored on being The Preferred Bank for Biashara.”
The lender is entering the public market on the back of record financial results. Profit after tax surged 52.6% year-on-year to KES 1.6 billion ($12.4 million) in the quarter ended March 2026. Total assets rose 32.3% to KES 230.3 billion ($1.78 billion), while customer deposits increased to KES 168.2 billion ($1.30 billion). Net loans also grew 12.6% to KES 108.4 billion ($838 million).
The transaction is being advised by Standard Investment Bank as lead adviser, while PwC Kenya is serving as reporting accountant and Mboya Wangong’u & Waiyaki Advocates as legal adviser.