When Family Bank announced that its CEO, Peter Munyiri, is set to exit in June after a five-year stint, successes he achieved during his tenure came to light. The forward looking man truly ignited growth at the bank building from the micro-finance model that the former boss (Peter Kinyajui) embraced – focusing majorly on small and medium enterprise lending as well as personal loans. Mr Munyiri is rearing to relinquish the top position as the bank now embarks on the process of getting a successor. He will continue serving until the right man to take his slot is found, and the next six months is how much time the bank has left for it to choose the next boss. This is aimed at enabling the bank to have a smooth transition. “The support from our board of directors has enabled my management team to meet the ambitious target set by our shareholders,” he said in a statement. “We have demonstrable proof what am indigenous bank can achieve within a short period backed by solid principles and guidance.” Family, whose pre-tax profit has grown from Sh502 million to Sh3 billion in 2015, has tapped a market (SMEs) which boasts of a big number of potential new customers. He turned around the mid-tier lender big time with the latest milestone being the launch of an insurance arm named Family Bank Insurance Agency. With 12 insurance companies already signed up to do the works, the agency will flourish on offering both life and general insurance products. Before joining the lender in 2011, the seasoned banker worked as the deputy group Chief Executive for Kenya Commercial Bank. It has been a good ride despite the latest challenge, the Sh791 million National Youth Service scandal, where the bank was adversely mentioned.

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