Family Bank Chief Executive Officer Rebecca Mbithi, who steered the lender through a turbulent season that included the COVID-19 pandemic, has left the institution after a five-year term at the helm to pursue other personal interests.
She served as the Managing Director and CEO since 2019. She previously served the bank as the Company Secretary and Chief Legal Officer. Her predecessor, David Thuku, who resigned in September 2018, less than two years after taking over the reins of the bank.
Under her leadership, Family Bank’s asset base almost doubled between 2019 and 2023 while its loan book grew by over 40%. The bank noted that during Mbithi’s tenure, it maintained a stable outlook, underpinned by a strong market position, a robust funding base, and liquidity, as recognized by Global Credit Rating, a South African rating firm.
“She steered Family Bank to steady growth in profitability while offering the customers even greater value in products and services. Notably, Ms. Mbithi shepherded the bank during a very successful corporate bond issuance,” said Dr. Wilfred Kiboro, the Chairman of Family Bank’s Board of Directors.
Dr. Kiboro also announced the appointment of Nancy Njau as the new MD & CEO pending regulatory process and approvals.