Family Bank Announces top Management Change as Managing Director Retires

Family Bank Announces top Management Change as Managing Director Retires

posted on May 4, 2016

Family Bank has today announced the appointment of Mr. David Thuku as the Managing Director to oversee the bank’s operations.

Mr. Thuku, who has served Family Bank as the Director of Retail Banking since 2013, brings on board over 25 years’ experience in banking. Prior to joining Family Bank, David Thuku held diverse senior roles in Investment Management, Project Management, Product and Sales Innovation, Secured Lending and Business Banking, among others, at Standard Chartered Bank and Barclays Bank.

Mr. Thuku’s responsibilities include driving Family Bank’s strategy forward by positioning the lender as a one-stop shop providing a combination of retail and consumer products, SME, corporate banking as well as trade finance products.

Speaking on the new appointment, Family Bank Chairman, Wilfred Kiboro said, “Mr. Thuku’s appointment heralds Family Bank’s renewed consumer focused initiatives that are aimed at providing unparalleled banking products and services. We are certain that Mr. Thuku will offer his vast experience and together with our competent management team and staff, propel Family Bank to even greater heights.”

David Thuku takes over the Bank’s leadership from Peter Munyiri, the outgoing Managing Director who has served the bank for five years.

“We thank Mr. Munyiri for the stellar work he performed in growing and expanding the business while he was with us,” Kiboro added.

During his tenure, Peter Munyiri steered the Bank to grow its asset base to KES. 81.2 billion in 2015, an impressive increase from KES. 20.1 billion in 2010. In addition, profitability before tax has grown from KES. 518 million in 2010 to KES. 2.8 billion in 2015.

Mr. Munyiri is set to leave in June when his contract expires, marking the end of a five year tenure for the career banker. Prior to joining Family Bank, Mr. Munyiri held senior positions at Cooperative

Bank, Standard Chartered Bank and Barclays Bank of Kenya.


The change of guard at the helm comes at a time that Family Bank is poised to continue rolling out relevant and innovative banking solutions that meet Kenyans’ diverse needs and requirements.