Kenya: Family Bank opens Isiolo branch in expansion plan

Family Bank has opened a new branch in Isiolo County, expanding the number of its outlets nationwide to 93.

The move is part of the lender’s medium-term expansion strategy that saw it raise Sh4.4 billion by issuing a corporate bond in June.

“As a bank … we continue to reaffirm our commitment to providing quality and easily accessible financial solutions to our customers and we are committed to extend similar quality and efficient services to the people of Isiolo,” chief executive Rebecca Mbithi said.

Small and medium-sized enterprises form over 80 percent of Family Bank’s customer base and the lender says it will continue to prioritise this client group in its lending.

The bank says Isiolo presents opportunities arising from diverse economic activities including tourism besides current and planned major infrastructure projects in the Lamu Port, South Sudan, Ethiopia Transport Transport Corridor (Lapsset).

“The county has created a conducive business environment and that is why Family Bank is able to set foot and open its first branch in Isiolo,” Dr Ahmed Galgalo, Isiolo County Secretary, said.