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Family Bank shareholders have approved the establishment of a non-operating holding company that will hold shares in Family Bank Kenya and other non-banking subsidiaries, ahead of expansion plans.
βRegional expansion remains a focus for the bank in supporting our business growth and expansion strategy. We are exploring the possibility of expanding our footprint to countries within the East, West, and Central African region,β said Family Bank CEO Nancy Njau.
βThis non-operating holding company will allow for capital efficiency, risk management, and the establishment of separate governance structures for both banking and non-banking subsidiaries,β she added.
The approval follows the Annual General Meeting, where shareholders also approved a KES 723 million dividend payout for the financial year ended December 2023.
