Family Bank shareholders have approved a Ksh. 1.1 billion dividend pay-out for the 2024 financial year. It translates to Ksh. 0.85 per Share,
The dividends represent a 53% increase from the 2023 pay-out, when shareholders approved a distribution of Ksh. 723 million. This year’s pay-out follows a 38% surge in profit after tax, which closed at Ksh. 3.4 billion for the year ended 2024.
“As a Bank, we are deeply grateful to our shareholders for their unwavering support and confidence in our decisions as we continue to balance sustainable returns with long-term capital growth as we gear to attain Tier 1 status,” Family Bank Chairman Lazarus Muema.
Reiterating his remarks, Family Bank CEO Nancy Njau stated that the Bank is committed to strengthening its position in the market. “As we embark on the next phase of growth, we remain committed to building on our achievements while addressing the evolving needs of our customers. Our new strategy places strong emphasis on innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth, all aimed at positioning the Bank as the Preferred Bank for Biashara,” she said.
Family Bank is the eighth-largest bank in Kenya, in terms of branch network with 96 branches across 32 counties. The Bank has over 1.2 million customers, 6,000 bank agents and 75,000 merchants across the country with total assets of Ksh. 168.5 billion and a deposit base of Ksh. 126.4 billion as of 31st December 2024.