Nairobi, June 24 -- Family Bank handed its founder, Titus Muya, Sh231.3 million in 2024 and 2025 as goodwill payments in recognition of his previous service as an executive and chairman of the lender.

Disclosures in the bank's 2025 annual report for the first time gave a breakdown of the emoluments per director, revealing the payments to Mr Muya.

Ex-gratia payments to former executives are made as a gesture of goodwill -meaning that there is no obligation on a company to do so- in recognition of long service or to preserve a good relationship with the recipient.

In 2025, Mr Muya was paid a total of Sh128.6 million, which included Sh93.13 million in ex-gratia payments, Sh21.8 million in director's fees, and Sh13.64 million in allowances...