Family Bank Chair Lazarus Muema
Family Bank has closed its private placement of ordinary shares on a strong note, raising KES 8.004 billion, surpassing its target of KES 6.090 billion and recording an oversubscription of 131%.
The successful capital raise will support the lender’s digital transformation agenda, boost lending capacity, and drive business expansion within Kenya and across the region.
Family Bank Chairman Lazarus Muema hailed the outcome as a powerful endorsement of the bank’s strategy and customer-centric focus.
“This remarkable outcome is a resounding vote of confidence in Family Bank’s resilient business model, consistent profitability, and our unwavering commitment to serving the real economy – particularly SMEs, agriculture, and underserved communities across Kenya,” Muema said. “The overwhelming demand reflects the market’s belief in our digital transformation journey and our purpose-driven approach to inclusive banking.”
The private placement attracted broad participation from fund managers, pension funds, insurance firms, corporates, and individual investors, underscoring strong market confidence in the bank’s financial performance and long-term growth path.
Family Bank CEO Nancy Njau said the new capital will strengthen the bank’s balance sheet and support lending to key sectors of the economy.
“We are deeply grateful to all investors who participated in this landmark capital raise. The additional equity significantly bolsters our capital ratios and will accelerate lending to priority sectors such as MSMEs, green financing, women- and youth-led enterprises,” Njau said. “This successful raise positions Family Bank strongly for sustained growth and enhanced shareholder value.”
Standard Investment Bank (SIB) served as the Lead Transaction Advisor and placement agent, working alongside Sterling Capital to execute the transaction.