Family Bank has assured customers of a strong financial position amid rumours of financial hurdles and placement under receivership. Family Bank Foundation thanked members of the public for support, noting it has spent more than Sh62 million on scholarships for 341 students. "This tells you Family Bank is in a strong financial position," the foundation wrote on Twitter on Thursday. In November, Central Bank gave the strongest hint yet that the collapsed bank would be wound up. On April 20, Central Bank agreed to KCB's proposal to acquire majority stake in the mid-tier institution.

Source: The Star November 17, 2016 11:55 UTC