Dr. Wilfred Kiboro is stepping down as the chairman of Family Bank after having been appointed to the position in 2012.
He is a Kenyan entrepreneur, philanthropist and golfer. He is best known for having been the Group CEO of the Nation Media Group (NMG).
Kiboro is a highly respected personality in the media and business industries in Kenya.
Under the leadership of Dr. Kiboro, Family Bank has scaled the ladder to become among the multibillion-shilling banks in Kenya.
What Has He Done Since 2012
Dr. Kiboro has been instrumental in the achievement of various milestones including extensive expansion of the Bank’s network from 68 branches to 95 branches in 2024.
He oversaw the bank through challenging times such as the COVID-19 Pandemic, and the banking sector crisis in 2016.
Also Read:Â Arch. Gitau Mungai Replaces Dr. Kiboro as Family Bank Chairman
Under Dr. Kiboro’s chairmanship, the Bank also successfully issued two corporate bonds in 2015 and in 2021, raising Ksh.2 billion and Ksh.4 billion respectively.
Family Bank Balance Sheet Hits $1 Billion Mark
He has overseen the bank’s asset base nascent from Ksh.31 billion in 2012, to Ksh.142 billion in 2023, while profitability grew from Ksh.561 million in 2012 to Ksh.2.5 billion in 2023.
During his tenure, the Bank’s balance sheet hit the $1 billion mark.
To further drive shareholder value, the Bank incorporated Family Bank Bancassurance Intermediary Limited which now contributes significantly to the Bank’s profitability.
He has also been instrumental in the establishment of The Family Group Foundation which has been a catalyst of transformative change through sustainable community investment programmes.
He is handing the mantle to his vice chair, Arch. Francis Gitau Mungai.
