Faulu Microfinance Bank is a limited liability company duly incorporated in Kenya under the Companies Act. The company changed its name to Faulu Kenya Deposit Taking Microfinance (DTM) Limited in 2008 as part of the requirements to obtain the Deposit Taking Licence from the Central Bank of Kenya. In May 2009, Faulu became the first registered DTM in Kenya under the Micro-Finance Act and is regulated by the CBK.
In line with the Bank’s tagline “Your Bridge to Success”, Faulu has served over 2.5 M customers, with many from the Community Segment graduating from Micro businesses to Small and Medium Enterprises. To date the bank has impacted over 10 Million direct dependents and the wider communities it serves via its financial inclusion agenda built on financial education and financial empowerment.
Faulu was founded in 1991 by Food for the Hungry International (FHI), a loan scheme program that targeted the economically active poor in Mathare. From these humble roots, Faulu has transformed into one of Kenya’s leading Retail and MSME Microfinance Banks with over 709 employees, over 400,000 customers and a track record of growth in its assets and loan book.
The Bank has grown tremendously over the last 25 years from a single branch located along Juja Road in Huruma to over 67 service outlets which include 44 banking branches across Kenya. 2016 saw the bank open five (5) additional branches in Nairobi (Jevanjee), Mombasa (Moi Avenue), Kilifi, Kabarnet and Kibera. Faulu has also been recognized by Institute of Certified Public Accountants of Kenya (ICPAK) and won the the Financial Reporting (FiRe) award in the Microfinance Category for three years from 2012.
Faulu is regulated by the Central Bank of Kenya (CBK) and a member of Association of Microfinance Institutions (AMFI). As a member of the UAP Old Mutual Group, the bank offers Banking, Investment, Savings and Insurance solutions to both Retail and MSME customer segments.
Faulu has also revamped its alternate banking channels resulting in an enriched customer experience. Customers can now transact conveniently via Faulu Visa Debit Cards, Faulu ATMs (in partnership with Interswitch) and a rich Mobile Banking offering that includes customer self-account opening and loan application. The bank has also joined the Kenya Electronic Payment and Settlement System (KEPSS) that allows for real time Electronic Funds Transfer (EFT).