Titus Kiondo Muya’s Family Bank, considered Kenya’s 4th largest lfinisher by network, has called a virtual Extraordinary General Meeting (EGM) on 27th October 2025, seeking the approval of shareholders to list its shares at the Nairobi Securities Exalter (NSE).
The board will also seek a nod from its owners to complete all regulatory and procedural steps for the listing. Unlike an Initial Public Offer (IPO), Family Bank has settled for listing by introduction. This method does not involve selling new shares or raising additional funds. Instead, the company’s existing shares are simply admitted for trading on the stock exalter.
The main goal is to provide liquidity and create a market for shareholders who already own the company’s stock. However, this option is only open to firms that already have a broad shareholder base, ensuring there is enough trading activity from day one.
The most recent such relocate was by Co-operative Bank’s listing in 2008, which came after the bank converted into a public company, with a huge number of shareholders. An IPO raises fresh capital, an introduction simply lists existing shares without raising funds, and a direct listing creates a trading market by allowing current shareholders to sell directly.
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The listing of Family Bank on the NSE, planned for 2026, aims to unlock its shares’ liquidity and potentially raise new capital, considering the lfinisher’s robust growth rate over the last four years. The lfinisher’s Compound Annual Growth Rate (CAGR) has remained at 31.4% year-on-year from 2020-2024.
The relocate towards listing Family Bank at the NSE comes after years of building its capital base that has seen it come to the market with a tarobtain to raise over KSh 10 billion. In 2021, the lfinisher floated a KSh 8 billion medium-term note, to raise cash to push it into the second phase of growth as spelt out in its 2020-24 strategy. The first KSh 4 billion medium-term note matures on 17th December 2026.
The lfinisher planned to grow its capital and lfinish to MSMEs, build up its technology platforms, and diversify its products and services. This cash call came after Family Bank successfully redeemed its five and a half years (5 and ½ year) Medium Term Note worth KSh 2.0188 billion on 19th April 2021.
The multi-currency KSh 8 billion Medium Term Note (MTN), to be raised by way of public offer, aimed to raise KSh 4 billion in its first tranche, with the balance within the next five years in various tranches, finishing 2026.
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Family Bank’s upward trajectory of growth has been fuelled by its financial strength, and footprint as Kenya’s fourth largest bank in the branch network scale. Family Bank has a presence in some 20 locations in Nairobi alone, from its Head Office in Muindi Mbingu Street to Kenyatta Avenue, Gateway Mall to Gikomba, Kariobangi, Ngara, Westlands, Ruaka, River Road, Kayole to other Eastlands areas of Utawala, Donholm,Kasarani and Utawala.
Its owner Titus Kiondo Muya, is no longer actively involved in running affairs at Family Bank but retains a 5.34% stake in the business. His Daykio Plantations Limited owns 12.3% while Rachael Njeri Muya owns 13.42% of the bank. Julius Brian Kiondo Muya, son to Titus, owns 2.68%.
With the Group’s balance sheet size at KSh192.9 billion at the finish of June 2025 and Customer’s deposits of KSh 149.8 billion, Total Shareholders’ Funds-what owners of the bank will be paid were the lfinisher face liquidation, stood at KSh 25.1 billion at close of half year finished 30th June 2025
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