Family Bank Group recorded a net profit of Ksh.1.05 billion in the first quarter of 2025, marking a modest increase from Ksh.910 million reported during the same period in 2024.
The improved performance for the January–March period is attributed to effective cost-cutting measures and a significant rise in interest income.
Interest income surged by 32.6% to Ksh.3.2 billion, driven by strong returns from government securities and an increase in loan disbursements.
The bank also reported a 32.1% growth in non-funded income, supported by higher customer transaction volumes, enhanced digital services, and greater uptake of its product offerings.
“Our new 2025–2029 strategy prioritizes innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth,” said Family Bank CEO Nancy Njau.
Also Read: Family Bank Shareholders’ Pay Up 52% After Ksh.3.4 Bn 2024 Profit
“We are positioning Family Bank as the Preferred Bank for Biashara, anchored in a refined segmentation strategy with a strong focus on retail and SME clients to better meet evolving customer needs.”
During the period under review, customer deposits rose by 19.8% to Ksh.132.3 billion, buoyed by operational improvements and ongoing investments in the bank’s digital infrastructure.
However, operating costs jumped by 41.5%, driven by a 59.6% increase in loan loss provisions and a 10.9% rise in staff-related expenses.
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