NAIROBI, Kenya, June 16 – Family Bank shareholders have approved the establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries ahead of expansion plans.
The lender is planning to expand its footprint in the East, West, and Central African regions.
“Regional expansion remains a focus for the Bank in supporting our business growth and expansion strategy,” said Family Bank CEO Nancy Njau.
“We are exploring the possibility of expanding our footprint to countries within the East, West and Central African region,” Njau added.
The approval comes following the Annual General Meeting, where the shareholders also approved a Sh723 million dividend payout for the financial year ended December 2023.
“This non-operating holding company will allow for capital efficiency, risk management and establishment of separate governance structures for both banking and our non- banking subsidiaries.”
