Kenya’s Family Bank heads to Nairobi bourse after five-year wait

….expected NSE listing comes after raising $62 million

Family Bank will begin trading its shares on the Nairobi Securities Exchange (NSE) on June 23, following approval from the Capital Markets Authority (CMA), marking the culmination of a five-year journey to become a publicly traded company.

The lender will be listed by way of introduction, a process that allows existing shareholders to trade their shares on the exchange without the issuance of new stock, according to a statement on Thursday. The move is expected to broaden investor participation while providing liquidity for current shareholders.

The listing comes at a crucial time for Kenya’s capital markets, as the NSE seeks to revive new listings following years of subdued activity. In recent years, the market has been dominated by bond issuances, rights offers and secondary share sales, with few companies pursuing public listings.

The bank’s market debut follows a successful private placement completed in 2025, in which the lender raised Sh8 billion ($61.8 million), exceeding its initial target of Sh6.09 billion ($47.1 million) by 31 percent. The capital injection strengthened the bank’s balance sheet and provided additional resources to support growth under its 2025–2029 strategic plan.

“Through the capital-raising initiatives, we have strengthened our balance sheet and remain confident in our strategy, our capital position, and our ability to deliver sustainable growth and long-term value,” said Nancy Njau, managing director of Family Bank.

The lender’s listing coincides with strong earnings momentum. Family Bank reported a net profit of Sh1.6 billion in the first quarter of 2026, representing a 52.6 percent increase from Sh1 billion recorded during the corresponding period last year.

The growth was supported by stronger capital buffers and improved profitability, with shareholders’ funds rising 42.2 percent to Sh34.7 billion following the private placement.

Analysts say the NSE listing could enhance the bank’s visibility among institutional and retail investors, improve price discovery and strengthen its access to capital markets over the long term.

Family Bank becomes the latest banking stock on the NSE, expanding investment opportunities in Kenya’s financial sector while providing a welcome boost to the exchange’s efforts to attract new listings.

The transaction was led by Standard Investment Bank (SIB) as transaction adviser, while PricewaterhouseCoopers (PwC) acted as reporting accountants. Mboya Wangong’u & Waiyaki Advocates served as legal advisers to the deal.