Family Bank has appointed Francis Gitau Mungai as the new board chairman, subject to regulatory approvals, taking over from long-serving Wilfred Kiboro.
Kiboro will be retiring after serving since 2012.
During his tenure the bank's network grew from 68 branches to 95 branches in 2024. He also steered the bank through challenging times such as the COVID 19 pandemic, and the banking sector crisis in 2016.
Under Kiboro’s tenure, the bank also successfully issued two corporate bonds in 2015 and in 2021, raising Sh2 billion and Sh4 billion respectively.
The bank's asset base grew from Sh31 billion in 2012, to Sh142 billion in 2023, while profitability grew from Sh561 million in 2012 to Sh2.5 billion in 2023.
Family Banks's balance sheet hit the USD 1 billion mark. The bank also incorporated Family Bank Bancassurance Intermediary Limited.
Mungai an architect by profession joined the Family Bank Board in 2016 and has been serving as the vice chairman for the last two years.
He has chaired the board’s Credit Committee and the IT and Projects Committee. He has also served as a member of the Human Resource Committee.
He is a seasoned professional with over 30 years of expertise in architecture and contract management.
He is a founding partner of Aaki Consultants, Architects, and Urban Designers and has held leadership roles with renowned firms such as Triad Architects in Nairobi and Urban Innovation Group (UIG) in Los Angeles.
He holds a Master’s Degree in Architecture from the University of California, Los Angeles (UCLA) and a Bachelor of Architecture degree with First-Class Honours from the University of Nairobi.
He is also a Fellow of the Architectural Association of Kenya (FAAK) and registered by the Board of Registration of Architects & Quantity Surveyors (BORAQS) in Kenya.
