Mr Peter Munyiri becomes the new Managing Director of Family Bank taking over from Mr Peter Kinyanjui .

Speaking during the press briefing , the Chairman of Family Bank Mr TK Muya on behalf of the board and the management of thanked and praised Mr Kinyanjui for his dedication and sterling contribution in the growth of bank in the last six years .

Introducing the new incoming Managing Director Mr TK Muya said he was extremely delighted to introduce Mr Peter Munyiri who is a seasoned career banker of over 21years with a chequered pedigree . With the wealth of Mr Munyiri’s experience I am confident of his ability to spur the bank into the next phase of growth added Mr Muya .

Mr Peter Munyiri holds a BA in Economics from the University of Nairobi, an EMBA from Jomo Kenyatta University College of Agriculture and Technology and an MBA in Strategic Management from Newport University.

Mr Munyiri has a wealth of experience in banking having previously
worked with Kenya Commercial Bank, Cooperative Bank of Kenya, Standard Chartered Bank and Barclays Bank of Kenya. He had also worked for the Kenya Government as an Economist. His last appointment was the Deputy Chief Executive Officer with Kenya Commercial Bank.

Recently the bank unveiled its new strategic investors AfricInvest ,FMO and Norfund , a consortium of private equity firms who acquired 22.31 percent stake pushing up total shareholders’ funds by 97 percent from Ksh 1.6 billion in September 2009 to Ksh 3.1 billion in September 2010.

AfricInvest Group of the leading private equity firms in North and sub-Saharan Africa with over $550 million (Ksh 44 billion) of assets under management across 10 Private Equity funds.

In addition the re-launched its brand identity and brand strategy which spells out the bank’s purpose of enabling people to create and sustain wealth through access to flexible, affordable financial services and its strategic thrust to become the premier lending bank.

Under the new brand identity, the bank will position itself as a financial institution where customers feel valued, understood, supported and respected like in a family. The brand position is captured by the bank’s new tagline “With you, for life.”

Family Bank one the leading banks with a customer base of about 832,000 customers began as building society in 1984 and has grown to be one of the biggest indigenous owned banks in Kenya. It converted into a commercial bank in 2007 and has 56 branches across the country.

The bank has an asset base of ksh 21.9billion ,a deposit base of ksh 17.3 billion and loan book of ksh 11.5 billion and a core capital of ksh 3.1 billion