Annual REPORT

CHAIRMAN’S STATEMENT (Continued)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Regional Expansion
To further support our Tier one journey, the bank is actively exploring valuable options in the African Region to have a presence
in at least one country in the next one year. Our options will leverage on the country profile and business risk profile through a
Brown Field entry Strategy. This will also be determined by the quality of assets available in the specific country we will eventually
commit our investment.
In preparation for our entry in the Region, The board is proposing to the Shareholders incorporation of a Non-operating Holding
Company to manage our planned regional Strategy and Subsidiaries. This move will position Family Bank as a regional entity
positively transforming lives in Africa and beyond. Family Bank projects that the new structure will increase efficiency and enable
the Group’s business operate more robustly and independently. We are confident as a board that the re-organization will result in
operational efficiencies and better financial performance for the Bank. The new units will be able to operate independently while
being supervised by the mother company to ensure that the activities are run according to the laid down practices and move
towards boosting the bank’s financial performance remarkably.
The structure we are proposing to form will go a long way in enhancing the Group’s capacity to attract capital and also enable
us to venture invest in new areas outside traditional banking. The structure will also help us achieve operational and strategic
autonomy for the Group’s operating entities and enhance corporate governance across the Group and oversight in management
of subsidiaries.
Exit of Managing Director & Chief Executive Officer
Our Managing Director and CEO will be leaving the Bank in June 2016 after the end of his contract, during which he presided
over unprecedented growth in the Bank’s history. On behalf of the Board of Directors and Staff, I sincerely express the Bank’s
appreciation for his contribution to the Bank and wish him the best in his future plans.
Conclusion
Our business continues to thrive despite the challenging operating environment the Kenyan Financial services industry is undergoing
We are registering exemplary financial performance; outperforming the industry and sustainably grown our key business lines.
This growth is a clear record of our ability and commitment to build a sustainable and impactful business in Kenya. We seek to
leverage on the vast opportunities both locally, regionally and globally to maintain our winning track record
On behalf of the Board of Directors, I take this opportunity to thank our shareholders for their confidence in the bank and supporting
it fully, our customers for your tireless support and clear demonstration of your faith in the Bank and its growth strategies. We are
deeply humbled and highly indebted for this unwavering support.
I also sincerely thank and high appreciate the management and staff of the Bank for their dedicated service and achievement in
implementing successful sustainable strategies in a dynamic and competitive banking environment during the year. My special
thanks also go to my fellow Board Members for their support, diligence and commitment as we work towards achieving the Bank’s
objectives of realizing full potential of our business. Finally, I want to thank the Central Bank of Kenya and other stakeholders
for providing an enabling business environment and for supporting us in our activities to help us grow, and provide value adding
solutions to our customers and other Stakeholders.
I sincerely appreciate our very able and hardworking Board Members who have always provided me and the Bank invaluable
support and guidance. I am certain that with continued focus, clarity of strategy and support of all stakeholders the years ahead
will be even more promising and brighter for the Bank.
Thank you.
Dr. Wilfred D. Kiboro
Chairman- Board of Directors
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