The Lower Eastern Times Opening The Third Eye
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Family Bank shareholders are set to pocket Sh1.1 billion in dividends, following board approvals.
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The payout translates to Sh0.85 per share for the 2024 financial year, according to the lender’s announcement.
This marks a 53 percent increase compared to 2023, when shareholders received Sh723 million in total dividends.
The improved payout follows a 38 percent rise in the bank’s after-tax profit, which stood at Sh3.4 billion for the year ending 2024.
Family Bank Chairman Lazarus Muema expressed appreciation to shareholders for their continued support, stating the bank remains focused on delivering sustainable returns while pursuing long-term growth and aiming to achieve Tier 1 status.
CEO Nancy Njau noted that the bank’s new strategic plan prioritises innovation, digital transformation, customer focus, and data-driven decision-making, all geared towards establishing Family Bank as the “Preferred Bank for Biashara.”
