NAIROBI, Kenya, Mar 28 – Family Bank Group has posted a net profit of Sh3.4 billion in the full year ending last year, representing a 38 percent growth in profit compared to a similar period in 2023.
In the fiscal year ending December 2023, the lender’s profit after tax stood at Sh2.5 billion.
The Bank attributes improved fiscal performance to sustainable revenue growth, a strong capital base, and a liquidity position, as well as cost and operational efficiency.
“Total revenue grew by 12.5% to KES 15.0 billion. This was supported by a 28.8% surge in total interest income to KES 20.3 billion, fueled by a 20.5% rise in earnings from loans and advances and a 62.1% increase in income from government securities,” Family Group said in a statement.
“Net interest income grew by 13.9% to KES 10.7 billion, reflecting strategic asset allocation, while non-interest income rose by 8.9% to KES 4.3 billion, supported by strong growth in other fees and commissions.”
Similarly, the Group’s total assets grew by 18.3 percent to Sh168.5 billion, driven by a 6.9 percent expansion in the net loan book to Sh92.9 billion. Customer deposits also rose by 23.3 percent to Sh126.4 billion by year-end.
“Our 2025-2029 strategy is anchored on innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth. With a strong capital base and solid market positioning, we are well-equipped to seize new opportunities and drive long-term value creation,” Family Bank Chief Executive Officer Nancy Njau said.
Consequently, the Group’s Board of Directors has proposed a 52 percent increase in the dividend from Sh0.56 per share to Sh0.85 per share.
