Family Bank has expanded its branch network to 93 branches across the country with the opening of a new branch in Isiolo County bringing services even closer to customers in the marginalized Northern part of Kenya.
“As a Bank, expansion of our footprint, anchored on our 2020-2024 strategy, we continue to reaffirm our commitment to providing quality and easily accessible financial solutions to our customers and we are committed to extending similar quality and efficient services to the people of Isiolo,” said Family Bank CEO Rebecca Mbithi during the opening ceremony.
Family Bank’s says it will continue supporting Micro, Small and Medium-Sized Enterprises (MSMEs) with increased lending focused on bolstering the growth of small traders, who form over 80 percent of its customer base.
“In line with our capital raising strategy, the Bank, through our recent corporate bond issue of Ksh4.42 billion, seeks to strengthen its capital base to support growth and onward lending activities to MSMEs across different sectors, who contribute to over 28 percent of Kenya’s GDP,” she added.
The lender banks on Isiolo town being a key connection point of the region enabled by the infrastructure growth brought about by the LAPSSET Corridor, the tarmac roads connecting the region, Isiolo International Airport and the presence of military barracks, training schools and the vibrant business community. The diverse economic activities such as conservancies, hospitality and tourism, modern farming greenhouses and irrigations have also enabled Isiolo to be an economic hub.
“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. Isiolo is a growing economic hub with great potential and I would like to urge the business community to take advantage of opportunities with Family Bank, a bank that believes in supporting small and midscale businesses,” said Isiolo County Government County Secretary Dr Ahmed Galgalo.
Those present at the opening ceremony include representatives from the County, Kenya National Chamber of Commerce and Industry and the business community of Isiolo.