"Banks are operating in Miserable conditions but Family Bank will not close its doors". Says Family Bank CEO Mr. Thuku.

Kenyan banks are in miserable conditions. It is speculated that the bill which the president signed to regulate banks affected many banks. The weak banks were affected a lot including Microfinance.

Faulu Micro-finance was sold to Old Mutual because of the financial constraints and lack of proper ways of making it stand out.  Dubai bank went under because of embezzlement of financial customer savings. It was followed by the Imperial bank, Habib bank,Chase Bank and the trend went on.

This week has been some rumors that some banks were also closing its doors. The banks which were expected to close its doors were Family Bank, Diamond trust, First community Bank and Bank of Africa. Family Bank CEO Mr. David Thuku admitted that the banking financial conditions are miserable. He said that the bank will not close its doors as speculated by social media customers.

These banks had problems with the central bank regulations. According to sources, some managers from these banks provided a hint about their banks status and went viral over the social media.

The banks status were at an alarming rate due to the CBK regulations that rendered some banks making a low profit and trench its employees to survive the financial tides.

It is also speculated that some banks are looking for ways join hands in the financial sector. CBA and Family bank are in talks of submerging rather than closing as it was speculated over the social media. The two banks also are in talks with Telecommunication companies to back up their financial needs.