In 1984, Family Bank planted its first seed of financial inclusion in Kenya as Family Bank Building Society, with just one branch. By then, it seemed like a dream that was far-fetched but one that has grown to be a force to reckon with within Kenya’s banking sector.
What began as a modest endeavor has blossomed into one of Kenya’s most geographically expansive banking institutions. Today, with 95 branches spread across 32 counties, Family Bank stands tall as the fourth-largest bank in the country in terms of footprint—proof of its unwavering commitment to being accessible to every Kenyan.
In May 2007, the Bank transitioned from a building society to a fully-fledged commercial bank, marking the beginning of its transformational journey. Over the decades, it has set the pace for innovation in the financial sector.
Family Bank was the first Kenyan bank to embrace paperless banking, introducing smart card technology that eliminated the hassle of deposit and withdrawal slips. This pioneering spirit continued with the launch of the PesaPap mobile app, an industry benchmark in mobile banking solutions.
Serving over 1.2 million customers, Family Bank has cultivated a strong retail base while championing SME growth—a cornerstone of Kenya’s economy. Through its expansive network of 6,000 bank agents and 75,000 merchants, the Bank ensures that its services are not only accessible but also embedded in the heart of local communities.
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Its deposit base of Ksh 102.6 billion and total assets valued at Ksh 142.4 billion as of December 2023 underscore its financial strength and unwavering trust among customers.
For instance, Family Bank Group’s Profit Before Tax for the nine months of 2024 grew by 8 per cent to KES 3.26 billion, up from KES 3.02 billion in the same period last year.
This growth was driven by a significant increase in income across various revenue streams. Total interest income surged by 29% to KES 14.6 billion, buoyed by a 20% rise in income from loans and advances, which reached KES 10.6 billion.
The loan book expanded by 11.3% to KES 94.2 billion. Our investments in government securities yielded more with a resultant 65% jump in interest income attributable to higher yields and growth of the portfolio. Total assets grew by 16% to KES 163.2 billion from KES 141 billion in September 2023, reflecting the Group’s continued growth trajectory.
Non-funded income rose by 13.2% to KES 3.3 billion, with income from other fees and commissions increasing by 14.5%. This contributed to an 11% increase in total operating income, supporting the bottom-line growth.
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Family Bank’s vision transcends national boundaries, aiming to transform lives across the African continent. By leveraging Kenya’s devolved governance structure, the Bank has embraced county banking to bring tailored financial solutions closer to its customers. This strategy positions Family Bank as a one-stop-shop for retail, SME, agribusiness, and corporate banking solutions, as well as trade finance and insurance products.
From its first branch to a network that spans the breadth and width of Kenya, Family Bank has remained true to its purpose: empowering communities and individuals through financial services. Its legacy of innovation, from smart card banking to the PesaPap mobile app, has redefined the banking experience, offering unparalleled convenience and efficiency.
As Family Bank celebrates its journey, it is not just a story of growth but a testament to its enduring commitment to empowering Kenyans—one transaction, one innovation, and one branch at a time. Indeed, from its modest beginnings to its current stature, Family Bank embodies the transformative power of ambition and service excellence.
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