NAIROBI, Kenya, May 21 – Family Bank Group has posted a net profit of Sh1.05 billion in the first quarter of this year, a slight improvement from Sh910 million earned during a similar period in 2024.
Improved Q1 (January to March) performance is attributed to cost-cutting measures and an improvement in interest income.
High yields from government securities as well as loans increased interest income by 32.6 percent to Sh3.2 billion.
Likewise, total non-funded revenue grew by 32.1 percent, supported by an increase in the number of customers’ transactions, improved digital offerings, and increased product uptake.
“Our new 2025–2029 strategy prioritizes innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth,” Family Bank CEO Nancy Njau said.
“We are positioning Family Bank as the Preferred Bank for Biashara, an approach anchored in a refined segmentation strategy, with a strong focus on the retail and SME sectors, enabling us to meet our customers evolving needs.”
In the review period, the lender’s customer deposits also rose by 19.8 percent to Sh132.3 billion, supported by operational changes and continued investment in digital infrastructure.
However, its operating costs increased by 41.5 percent, attributed to a 59.6 percent rise in loan loss provisions and a 10.9 percent increase in staff costs.
