[Nairobi, Kenya – 23 June 2026] Standard Investment Bank (SIB) is proud to have acted as Lead Transaction Adviser to Family Bank PLC on its successful listing on the Nairobi Securities Exchange (NSE), marking a major milestone for both the institution and Kenya’s capital markets.
The admission of Family Bank to the Main Investment Market Segment (MIMS) of the NSE represents the largest private-sector listing on the Exchange in over 17 years and reflects growing confidence in Kenya’s banking sector and capital markets.
Family Bank has listed approximately 1.66 billion fully paid ordinary shares on the Main Investment Market Segment (MIMS) of the NSE at an introductory price of KES 18.00 per share, implying a market capitalization of approximately KES 29.9 billion. The listing by introduction enables existing shareholders to trade their shares on the Exchange, broadens investor participation, and facilitates transparent market-based price discovery.
Family Bank’s decision to pursue a listing by introduction was supported by its strong capital position, having successfully raised KES 8 billion through a private placement in 2025 against an initial target of KES 6.09 billion. The Bank remains well-capitalized and did not seek to raise additional capital through the listing process.
Commenting on the transaction, Job Kihumba, Executive Director, Corporate Finance & Advisory at Standard Investment Bank, said:
“The listing of Family Bank on the Nairobi Securities Exchange marks a significant milestone for both the institution and Kenya’s capital markets. Beyond enhancing the Bank’s visibility and access to capital, the listing provides shareholders with greater liquidity and a transparent platform for value realization. As Lead Transaction Adviser, Standard Investment Bank is proud to have successfully executed this landmark transaction, delivering a seamless pathway to the public markets. We believe the listing positions Family Bank to accelerate its growth ambitions while broadening investor participation in one of Kenya’s leading banking franchises.”
Family Bank Chief Executive Officer Nancy Njau emphasized the significance of the listing in the institution’s growth journey.
“Today’s listing is more than a capital markets milestone but a testament to the resilience, growth and transformation of Family Bank. For over four decades, we have remained committed to empowering individuals, businesses and communities through accessible financial services. Joining the Nairobi Securities Exchange today marks the beginning of a new chapter defined by enhanced transparency, stronger governance and greater opportunities for value creation for all our stakeholders,”
Family Bank Chairman Lazarus Muema described the listing as a defining moment for the institution and a reflection of the confidence placed in the Bank by its stakeholders.
“As a Board, we have always supported listing as it enhances the Bank’s profile, strengthens corporate governance, and provides greater liquidity for our shareholders. Over the last five years, we have closely monitored the price-to-book multiples of listed banks to determine the optimal timing. We are therefore pleased to have reached this milestone and are confident that this will create long-term value for our shareholders,” said Mr. Muema
The listing underscores Family Bank’s evolution from a building society into one of Kenya’s leading retail-focused financial institutions, serving more than 1.3 million customers through a network of 96 branches and digital banking channels nationwide.
Speaking during the listing ceremony, Central Bank of Kenya (CBK) Chairman Andrew Musangi highlighted the significance of the milestone for the country’s financial services sector.
“Kenya’s largest banks are homegrown and today is a celebration of one. This morning, we have witnessed close to KES 40 billion in wealth created within minutes of trading, a remarkable testament to what Kenyan enterprises are capable of. We have moved beyond the conversation of small banks and as the Central Bank, our commitment remains to support and safeguard the growth of banks.”
NSE Chairman Kiprono Kittony welcomed the admission, noting its importance to the continued development of Kenya’s capital markets.
“The NSE exists to mobilize capital, facilitate investment and connect promising enterprises with investors seeking opportunities for growth. For many years, market participants have called for more listings, greater market depth and increased participation from high-quality private-sector issuers. The admission of Family Bank therefore represents the continued strengthening of Kenya’s market architecture and reinforces the position of the NSE as the premier platform for capital formation in East Africa,” said NSE Chairman Kiprono Kittony.
The successful listing further demonstrates Standard Investment Bank’s leadership in advising on transformative capital markets transactions and its commitment to supporting the growth of Kenya’s financial sector. By helping leading institutions access public markets, SIB continues to contribute to market deepening, enhanced corporate governance, and expanded investment opportunities for local and international investors.
Other advisers to the transaction included PricewaterhouseCoopers (PwC) as Reporting Accountants and Mboya Wangong’u & Waiyaki Advocates as Legal Advisers.
