Barclays Bank Kenya shareholders aprrove name change to ABSA
Barclays Bank Kenyan shareholders have voted in support of the proposed name change to ABSA where rebranding will be done over the next two years.
“Now what we have to is manage the regulators and eventually the company’s registrars office. So there is not going to be an immediate name change in the public’s perspective because the process is not yet complete.” Jeremy Awori Managing Director Barclays Bank of Kenya.
The bank has until June 2020 to unveil its new brand in the market,subject to regulatory approval. This is in line with the separation agreement between Barclays PLC and Barclays Africa Group Limited.
“ The process will be carefully managed and will align with all shareholder and regulatory requirements to ensure it is a seamless transition for all our stake holders. Our new identity will bring with it a heightened level of customer obsession; a dermination to be more digitally -led and take advantage of the opportunities that this market presents.” Jeremy Awori Managing Director Barclays Bank of Kenya.
The approval comes just after parent company Barclays Africa Group Limited gave the go ahead for the group to change its name from Barclays Africa to Absa Group this year.
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