Family Bank is targeting a Sh6.2 billion ($47.9 million) private placement to boost its capital ahead of its planned Nairobi Securities Exchange listing by 2026. This move follows a significant surge in their latest half-year profits.

• Family Bank reported after-tax earnings of Sh2.2 billion for the six months to June, a 36.6 percent increase from Sh1.6 billion last year.
• CEO Paul Ngaragari stated the capital raise is to support rapid growth and not for regulatory or lending purposes, as their liquidity is at 53 percent.
• The private placement, aimed at select sophisticated investors, is expected to close by the end of August to strengthen the bank's capital adequacy, which stood at 15.9 percent.