Family Bank has opened two branches in Mwea and Litein as it races to grow shareholders value and jump into the top tier space by 2016.
The lenders total number of branches now stands at 78 and is 12 shy of its targeted 100 by end of next year, as it banks on opening up of counties and increased business opportunities.
“We are pegging our branch expansion plans on the opportunities in all the sectors in the country’’,said Family Bank managing Director, Peter Munyiri.
The bank has also revamped its internet banking platform with complimentary online banking options for corporate and SME customers, to enhance its value proposition.
The new platform will ride on a mobile app for both Android and IPhone to boost user experience by allowing them do real-time account and transactions.
‘’We are leveraging on our banking model which aims at gradually positioning the bank as a one stop-shop providing retail and consumer products, SME, agribusiness, corporate banking and Trade Finance, Insurance products. We are proud that we are a leading SME bank” said Munyiri.
The bank is seeking to raise Ksh 3.5Billion in new capital to fund its expansion, enhance ICT infrastructure and meet new guidelines on capital.
Central Bank of Kenya (CBK) requires banks to increase their capital ratios to 14.5 per cent by January 2015.