Family Bank’s Expansion Plans: Shareholder Approval and Fundraising Goals

Family Bank aims to secure Sh10 billion for regional expansion after receiving shareholder approval. The tier one lender plans to issue up to 800 million new shares through a rights issue, increasing its authorized Ordinary Shares from 1,500,000,000 to 2,300,000,000. 

This capital raise will be a combination of a rights issue and contributions from new shareholders through a private placement, according to the bank.

During the annual general meeting held on June 28, Mbithi apprised the shareholders of the bank’s intention to raise $100 million. This plan entailed exploring opportunities for mergers and acquisitions, primarily aimed at expanding the bank’s regional presence. 

The bank has disclosed that the rights issue will complement its capital-raising endeavors, building upon its previous announcement in May about considering a private placement as part of its financial strategies.

The capital raised will play a pivotal role in fortifying Family Bank’s financial foundation, with a strong emphasis on local and regional expansion strategies. These funds will be channeled into significant investments in IT infrastructure, innovative product development, and the continued support of lending activities. 

This underscores the commitment to enhancing the convenience and accessibility of Family Bank internet banking services for its valued customers.

“Through this capital raise, we are positioning the bank for the next phase of growth which will position the bank as a choice bank for our existing and potential clients through customer-first service delivery not only in Kenya but also in the region,” said Family Bank CEO Rebecca Mbithi.

Family Bank is dedicated to providing excellent customer care services, and during its financial expansion, it continues to prioritize customer engagement and assistance. 

Customers can easily reach out to Family Bank through various contact channels, including phone on +254 (0) 703 095 445 or +254 (0) 703 095 000, email at customerservice@familybank.co.ke, or visiting one of their branches. The bank’s customer care team is readily available to address inquiries, provide information, and offer assistance on a wide range of banking matters. 

As Family Bank expands, it remains committed to delivering top-notch customer service, ensuring that customers can access the support they need promptly. For Family Bank contacts and customer care, visit their official website for detailed information.

Read On: KCB Bank Kenya and Mastercard Partner for Exclusive World Elite Credit Cards

Family Bank’s Paybill service is a convenient and efficient way for customers to make various transactions. By utilizing the Family Bank Paybill number, customers can easily pay bills, transfer funds, check balances, and more. 

This service streamlines financial transactions, reducing the need for physical visits to the bank. Customers enjoy the benefits of time-saving, secure, and hassle-free payments, making it an essential tool for modern banking. 

The Paybill Family Bank system ensures that customers have easy access to their accounts and can manage their finances from the comfort of their own homes or anywhere they have an internet connection.

Family Bank offers convenient online and mobile banking options for seamless account opening and management. Through Family Bank online banking, customers can easily open accounts, check balances, transfer funds, and pay bills from their computers or mobile devices. 

Family Bank mobile banking provides a user-friendly platform to access banking services on the go. These digital channels ensure 24/7 family bank account opening online control, eliminating the need for branch visits. 

With Family Bank online and mobile banking, customers enjoy the flexibility and convenience of managing their finances from anywhere, at any time. It’s a hassle-free and efficient way to stay connected with their accounts.

Family Bank presents promising career opportunities through various roles within the institution. As part of its commitment to job creation and growth, Family Bank continuously seeks talent to join its dynamic team. Family Bank careers offer diverse avenues, including roles in banking, finance, customer service, and technology. 

The bank’s expansion and innovative financial services create new employment prospects, contributing to the growth of local and regional job markets. Family Bank careers provide a pathway for individuals to grow professionally and make a meaningful impact in Kenya’s banking sector.

Family Bank’s website serves as a gateway to modern financial services. It provides customers with the convenience of online account access through Family Bank e banking. 

With a user-friendly interface, clients can easily navigate the website and log in securely to their accounts. Internet banking family bank has become essential in today’s financial landscape, offering services such as balance inquiries, fund transfers, and bill payments. 

Family Bank’s digital platform ensures that customers have quick and secure access to their accounts, enabling them to manage their finances efficiently. Explore the Family Bank website and experience the future of banking through convenient online services.

Family Bank exemplifies an unwavering dedication to customer support and advanced digital banking services. Their commitment ensures clients enjoy secure, innovative, and hassle-free banking through online platforms and the Paybill Family Bank service. Their responsive customer care team further guarantees exceptional service for every customer.