Family Bank picks insider to replace Mbithi as CEO
By Noel.Wandera, November 24, 2023
TRANSITION: Family Bank has appointed Nancy Njau as the Managing Director and CEO, replacing Rebecca Mbithi, who has been at the helm since 2019.
According to a statement from the board of directors, Mbithi was “transitioning from the bank after a five-year term at the helm to pursue other personal interests.”
“We would like to sincerely thank Rebecca Mbithi for her immense contribution to the Family Bank journey. She steered Family Bank to steady growth in profitability while offering the customers even greater value in products and services,” the board of directors noted.
Prior to her appointment as CEO, she worked in the bank as Secretary and Director of Legal Services from 2015.
She leaves the corner office slightly below a week before the lender announces the outcome of a Sh10 billion rights issue on November 30 2023.
The money will be used to strengthen Family Bank’s capital base and facilitate local and regional expansion plans, drive investment in IT infrastructure and new product initiatives as well as support onward lending activities. Mbithi replaced David Thuku, who resigned in September 2018.