When Titus Muya, the man famously known as TK by those close to him wanted to start what is now today known as Family Bank, he had nothing but an idea, a vision, motivation, and inspiration to start a bank.
At 18 years in 1961, the idea to start a bank came to Titus Muya while reading a business article in an international magazine.
After completing high school, Muya secured a job as a civil servant, but his career did not take off due to a lack of university education.
With such challenges, he wanted to give up on his dream but remained resilient seeing that he was the sole bread winner of his family.
Family Bank, a dream come true for Titus Muya
According to Family Bank, Titus Muya decided to embark on his dream of opening a bank fifteen years later. He was determined to open a bank and would visit the National Treasury every Thursday for four years to follow up on his bank license application. However, his license application was turned down.
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Determined to make his dream a reality, he was advised to start with a building society to which Family Finance Building Society was founded.
Family Finance Building Society continued to grow and by 2005, the institution had over 30 branches across the country. In the year 2007, Family Finance Building Society officially converted to a bank after receiving a go ahead from the Central Bank of Kenya.
Largest Shareholder
As of 2020, Muya was the single largest shareholder at Family Bank with a 17.3 per cent stake. He stepped down as Family Bank Chairman in 2020 after 28 years at the helm of the lender.
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Family Bank is currently the 14th largest bank in Kenya and fourth largest bank in terms of branch network. With 93 branches across the country and an asset base of Ksh130 million, Family Bank now employs over 1,500 staff and has more branches under constructions.
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