By Eddah Waithaka
Family Bank shareholders have approved a KES 1.1 billion dividend payout for the 2024 financial year, translating to KES 0.85 per share a 53% increase from the previous year’s KES 723 million distribution.
The decision follows a 38% jump in profit after tax, which hit KES 3.4 billion for the year ended December 2024. Lazarus Muema, Family Bank Chairman, said, “We deeply appreciate our shareholders’ trust as we balance sustainable returns with long-term growth, steering the bank toward Tier 1 status.”
Echoing his remarks, CEO Nancy Njau reaffirmed the bank’s market expansion plans, “Our new strategy prioritizes innovation, digital transformation, and customer-centric solutions to solidify our position as the Preferred Bank for Biashara.
The payout reflects the bank’s strong financial health and commitment to rewarding investors while pursuing aggressive growth in Kenya’s competitive banking sector.
The dividend payout stands at KES 0.85 per share, marking a 53% increase from 2023, while the bank’s profit after tax surged 38% to KES 3.4 billion, with its strategic focus centered on digital transformation, SME banking (“Biashara”), and sustainable growth.
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