Family Bank has officially commenced trading on the Nairobi Securities Exchange (NSE), marking the largest private sector listing on the bourse in more than 17 years.
The lender listed approximately 1.66 billion fully paid ordinary shares on the NSE Main Investment Market Segment (MIMS) through an introduction at an initial price of KSh18 per share, giving the bank an implied market capitalisation of KSh29.9 billion.
The listing allows existing shareholders to trade their holdings publicly, expands investor participation and provides a transparent platform for determining the market value of Family Bank shares.
Central Bank of Kenya (CBK) Chairman Andrew Musangi, who presided over the market opening ceremony, described the milestone as a reflection of the strength of locally grown enterprises.
“Kenya’s largest banks are homegrown and today is a celebration of one. This morning, we have witnessed close to KSh40 billion in wealth created within minutes of trading, a remarkable testament to what Kenyan enterprises are capable of,” said Musangi.
He added that the CBK remains committed to supporting and safeguarding the growth of banks in the country.
Family Bank’s decision to list through introduction comes as the lender maintains a strong capital position and does not require additional capital injection. In 2025, the bank successfully raised KSh8 billion through a private placement offer, surpassing its initial target of KSh6.09 billion.
Family Bank Chief Executive Officer Nancy Njau said the NSE listing represents a new phase of growth, transparency and value creation for stakeholders.
“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,” Njau said.
Family Bank Chairman Lazarus Muema said the listing demonstrates the confidence placed in the institution by shareholders, customers, employees, regulators and the wider market.
According to Muema, the move will strengthen corporate governance, enhance the bank’s profile and provide greater liquidity for shareholders.
The listing highlights Family Bank’s transformation from a building society into a retail-focused financial institution serving more than 1.3 million customers through 96 branches and digital banking platforms across Kenya.
NSE Chairman Kiprono Kittony said the admission of Family Bank reinforces the role of the exchange in mobilising capital and connecting high-quality enterprises with investors.
“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,” Kittony said.
Standard Investment Bank (SIB) acted as the lead transaction adviser, with PricewaterhouseCoopers (PwC) serving as reporting accountants and Mboya Wangong’u & Waiyaki Advocates providing legal advisory services.
SIB Executive Director, Corporate Finance Job Kihumba said the listing would enhance Family Bank’s visibility, provide shareholders with liquidity and position the lender for future growth.
The NSE debut marks a significant milestone for Kenya’s banking sector, as Family Bank becomes one of the few privately owned banks to access public markets, opening new opportunities for investor participation and long-term value creation.