Mid tier lender Family Bank received over Ksh8B on its private placement of ordinary shares. This represented a subscription rate of 131 percent of its Ksh6B target.
The bank says it received offers from among others pension funds, fund managers and insurers.
The funds it says will be critical in shoring up its core capital and supporting its plans for regional expansion.
Already, Family Bank has put in place a team to prime it for listing at the Nairobi Securities Exchange by introduction.
The 2026 exercises will see the lender put to trade some one billion shares if it secures regulatory approvals.