Family Bank CEO Rebecca Mbithi exits after five years

Family Bank’s outgoing CEO Rebecca Mbithi (left) and her successor Nancy Njau.

Family Bank CEO Rebecca Mbithi has left the bank after a five-year stint at the helm of the medium-sized lender.

Ms Mbithi, who previously served as Family Bank’s company secretary and chief legal officer, will be replaced by another insider, Nancy Njau. According to an announcement sent to newsrooms on Thursday, Ms Mbithi will be pursuing other personal interests.

In September 2019, Ms Mbithi replaced Mr David Thuku, who served as the lender’s CEO for three years.

“We would like to sincerely thank Rebecca Mbithi for her immense contribution to Family Bank’s journey,” said Dr Wilfred Kiboro, the chairman of Family Bank’s Board of Directors.

“She steered Family Bank to steady growth in profitability while offering even greater value in products and services to customers,” Dr Kiboro added.

Dr Kiboro noted that Ms Mbithi had led the bank through a very successful corporate bond issuance. In June 2021, Family Bank raised Sh4.42 billion, representing a subscription of 147.3 per cent against a target of Sh3 billion with a green shoe option of Sh1 billion in the first tranche of the corporate bond offer via public placement.

“As a board, we wish her well in her new endeavour,” said Mr Kiboro.

Ms Mbithi’s replacement, Njau, has been with Family Bank for 21 years in various roles including Head of Retail Banking, Chief Officer Public Sector and currently Acting Chief Commercial Officer.

She holds a Master’s Degree in Business Administration specialising in Strategic Management from the Jomo Kenyatta University of Agriculture and Technology, a Bachelor of Commerce Degree (Accounting) from Kenyatta University and a Higher Diploma in Human Resource Management.

[email protected]