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.
Faulu Microfinance Bank was founded by Food for the Hungry International (FHI), a Christian relief organization, Loan scheme program that targeted the economically active poor in Mathare. From its humble roots as a loan scheme in 1991, Faulu is currently one of the top Deposit Taking MFIs in Kenya have successfully developed a platform aimed at banking the previously unbanked though a variety of savings, credit, micro insurance and mobile banking solutions.
Faulu Microfinance Bank has demonstrated a track record of enviable growth in its assets and loan book. Faulu Microfinance Bank has grown tremendously over the last 20 years from a single MFI office in 1991 to over 90 service outlets which include 27 banking branches in seven of the eight provinces in Kenya by end of 2011, with various strategic partnerships that make its financial services available countrywide.
Faulu Microfinance Bank has created a strong brand in the Deposit Taking Microfinance Industry and continues to strengthen its presence in the market in a deliberate effort to grow its banking business. Faulu envisions to be a market leader through diversified products, wider distribution networks, strategic partnerships and affordable pricing due to reduced costs and cheap deposits from its banking business.