Family Bank CEO Rebecca Mbithi has left the bank after five years at the helm of the mid-sized lender.
Ms Mbithi, who was previously the company secretary and legal director of Family Bank, will be replaced by another insider, Nancy Njau. According to an announcement sent to editorial offices on Thursday, Mbithi will pursue other personal interests.
In September 2019, Ms Mbithi replaced Mr David Thuku, who served as CEO of the lender for three years.
“We would like to sincerely thank Rebecca Mbithi for her immense contribution to Family Bank’s journey,” said Dr. Wilfred Kiboro, Chairman of the Board of Directors of Family Bank.
“She has led Family Bank to consistently grow its profitability while providing customers with even greater value in terms of products and services,” added Dr. Kiboro.
Dr Kiboro noted that Ms Mbithi had led the bank through a very successful corporate bond issue. In June 2021, Family Bank raised 4.42 billion shillings, representing a subscription of 147.3 percent against a target of 3 billion shillings with a green shoe option of 1 billion shillings in the first tranche of the offering of corporate bonds through a public offering.
“As a board of directors, we wish him well in his new endeavor,” Mr. Kiboro said.
Ms Mbithi’s replacement, Njau, has been with Family Bank for 21 years, holding various positions including head of retail banking, public sector director and currently acting commercial director.
She holds a Master of Business Administration specializing in Strategic Management from Jomo Kenyatta University of Agriculture and Technology, a Bachelor of Commerce (Accounting) from Kenyatta University and a Postgraduate Diploma in Management human resources.