Family Bank of Kenya Limited

BANK PROFILE
Family Bank Limited (FBL) was founded on 1st October 1984 as ‘Family Finance Building Society’ under the Building Societies Act (Cap 489 Laws of Kenya). On 30th April 2007, Family Finance converted into a fully-fledged commercial bank and was formally licensed under the provisions of the Banking Act (Cap 488 Laws of Kenya) and the Central Bank of Kenya (CBK) Prudential Guidelines. Family Bank is a member of the Deposit Protection Fund (DPF) and a full member of the Kenya Bankers Association (KBA).

Purpose    To enable people create and sustain wealth through access to flexible, affordable financial services.

Core Values 

Winning Together…Within ourselves and with our customers, we work together and we win together.
Self Belief…In ours and customers’ ability to change the world. Transparency…Our Customers will trust and reward us for it. Humility…It’s not about us, it’s about our customers.

Shareholding

Family Bank has 7,100 shareholders and has conducted two private placement activities to diversify its shareholding. In September 2010, the bank brought on board a consortium of foreign investors boosting the bank’s capital, technical expertise and capacity building. The Bank plans to list soon at the Nairobi Stock Exchange (NSE).

Financials

As at 30th June 2011, Family Bank had an asset base of Kes. 21.9 billion. The deposit base stood at Kes. 17.4 billion, a loan portfolio of Kes. 11.7 billion, a core capital of Kes. 3.1 billion and a customer base of over 900,000. For the second quarter of 2011, Family Bank achieved a profit before tax of Kes. 289.0 million – an increase of 21 percent from a similar period in 2010.

Achievements 

Family Bank has received numerous awards for the innovations and services rendered to its customers. In a most recent customer service research commissioned by Interbrand Sampson – a renowned international brand consultant – Family Bank was ranked the 6th most preferred bank in Kenya. Family Bank is the fifth largest bank in the  country  by both  footprint and  customer  base and was recently moved to a Tier I bank in a Kenya Banking Survey therefore setting the stage for Family Bank  to become a BIG bank.

Delivery channels

From one branch in 1985, the Bank has grown to be a bank with 58 branches countrywide covering seven out of eight provinces in Kenya. The bank has so far achieved a roll-out of over 120 ATMs. As a member of the Kenswitch network our customers have access to an ATM network to over 967 ATMs countrywide.

People 

Family Bank has a competent Board of Directors with diverse backgrounds, expertise and work experience, competent and experienced management, supported by a workforce of over 1,200 highly qualified staff.

Information, Communication & Technology 

Our operations are fully automated using Oracle Flexcube core banking system – one of the best banking systems in the world – currently being used by leading global banks .With our seamless paperless banking, no bank slips need to be completed to transact at any of our branches. Oracle Flexcube also supports Internet Banking, Mobile Money Transfer popularly known as Pesa pap!, Point-of-Sale (POS) terminals  and Contact Centres.
Products & Services    The bank provides a wide range of financial products which include Current and Savings accounts, Fixed Deposit accounts, Term loans, Mortgages finance, Trade finance, Foreign currency, Electronic funds transfers (EFTs), Letters of credit, Bid bonds, Asset finance, Bancassurance and Insurance premium financing at very competitive rates. Our interest rates are priced competitively and we have simplified our account opening and loan application procedures.

Partnerships

Family Bank is currently partnering with the Government and other organizations in various public private partnerships with the objective of availing affordable financial services to the people. Some of the Institutions with whom we have strategic  partnerships  include :
•    Ministry of Information & Communication- We are the Managers of the Kes 300m Digital Village Revolving Fund (DVRF) under the Kenya ICT Board.
•    Ministry of State for Youth Affairs – we are a financial intermediary for the Youth Enterprise Development Fund where we have lines of credit and training in business skills.
•    Ministry of Gender and Social Services – we have another line of credit and training in a wide range of business skills under the Women Enterprise Development Fund.
•    Ministry of Finance – we offer financial intermediary services to the Constituency Development Fund (CDF) in various constituencies.
•    Ministry of Local Government – we are a financial intermediary for Local Authority Transfer Fund (LATF) in various municipals and town councils.
•    Micro Enterprise Support Programme Trust (MESPT) – we are in partnership with MESPT who provide on-lending lines of credit for micro enterprises sector.
•    PTA Bank – we have business relationships with PTA Bank through debt financing, which is an indicator of the confidence that other institutions have in this bank.

Contacts    Tel: +254 20 318173, 318940/2/7
Fax: +254 20 318174
Cell: +254 720 098300, 736 698300
Email: info@familybank.co.ke

Address    Family Bank Limited
Fourways Towers, Muindi Mbingu Street
P.O Box 74145 – 00200 Nairobi Kenya
www.familybank.co.ke

Twitter.com/familybankkenya