Family Bank Limited shares climbed 81% between June 23 and July 31, 2026, rising from KES 18.00 to KES 32.50 and lifting the lender’s market capitalisation from KES 29.9 billion to KES 54.0 billion.
The rally followed the bank’s debut on the Nairobi Securities Exchange and coincided with a set of first half results showing profit up more than 60% year on year.
From OTC to NSE
Family Bank listed on the Nairobi Securities Exchange on June 23, 2026, by way of introduction, meaning no new shares were issued and no capital was raised. The bank moved 1.66 billion existing shares from the over the counter market, where they had traded since 2006, onto the NSE’s Main Investment Market Segment under the ticker FMLY. The listing, advised by Standard Investment Bank, ranks among the largest private sector debuts on the Nairobi exchange in more than 17 years, and the first for a domestic bank since Co-operative Bank of Kenya listed in December 2008.
Shares opened at a reference price of KES 18.00 and closed their first trading day at KES 26.00, a 44% gain that valued the bank at KES 43.2 billion. The stock has continued to climb since, reaching KES 32.50 by July 31 and pushing market capitalisation to KES 54.0 billion, according to Family Bank’s disclosures.
Profit Nearly Doubles on Higher Interest Income
Family Bank posted profit before tax of KES 4.6 billion for the six months to June 2026, up 59% from the same period last year. Profit after tax rose 62% to KES 3.7 billion. Total assets grew 24% to KES 238.9 billion.
The growth follows a strong first quarter, when profit after tax rose 52.6% to KES 1.6 billion on a 45.5% jump in net interest income, and a 2025 full year profit of KES 5.3 billion, up from KES 3.46 billion the previous year.
| Metric | Change | H1 2026 |
|---|---|---|
| Profit Before Tax | +59% | KES 4.6bn |
| Profit After Tax | +62% | KES 3.7bn |
| Total Assets | +24% | KES 238.9bn |
| Customers | +7% | 1.4 million |
| Merchant Partnerships | — | 118,846 (from 91,500) |
| Active Agents | — | 5,000 (from 4,500) |
| Digital Transaction Share | — | 92% |
Growth Backed by Customer and Digital Expansion
Family Bank said the earnings growth reflected operational expansion rather than balance sheet leverage alone. Customer numbers rose 7% to 1.4 million. Merchant partnerships increased from 91,500 to 118,846, and active agents rose from 4,500 to 5,000. The bank said 92% of transactions now run through digital channels, including internet banking, Family Pay and Pesapap.
Global Credit Rating reaffirmed the bank’s BBB+(KE) long term and A2(KE) short term issuer ratings during the period, maintaining a stable outlook.
Listing Context
The listing came after a run up in Family Bank’s over the counter share price, which rose from KES 15.21 to KES 20.28 in the six months to March 2026. The NSE reference price of KES 18.00 valued the bank at 0.86 times its reported shareholders’ funds of KES 34.77 billion as of March 2026, a discount management and its advisers said was deliberate given that the listing raised no new capital. Kenya Tea Development Agency Holdings holds the largest single stake in the bank at 18.98%, with founder Titus Muya and associated entities controlling a combined 35.67%.
Family Bank chief executive Nancy Njau said at the listing that the bank was moving into its next phase from a position of strength. The bank operates 96 branches and has said it is targeting 100 by the end of 2026.
