(Seychelles News Agency) - Barclays Bank Seychelles officially changed its name to Absa Bank Seychelles on Monday, marking the start of a new era.

Despite the name change, local branches will continue to operate as usual. Barclays ATM cards will continue to work until their date of expiry.

The name change was done in a ceremony on Monday evening at the Capital City building in the capital, Victoria.

The managing director of Absa Group, Johan Van Schalkwyk, said that it is with pride and excitement that he is witnessing and launching this new brand.

"After 60 years proudly under the previous brand, Barclays, we have reached our first trading day as Absa. All this would not have been possible without our customers, who chose to believe in us while embarking on this journey to become a Pan African brand," he said.

Van Schalkwyk said that it was with pride and excitement that he witnessed and launched the new brand. (Joe Laurence, Seychelles News Agency) Photo License: CC-BY

Absa Bank Seychelles is part of Absa Group Limited, an African banking group with a presence across 12 countries and an international office in London and soon to open one in New York.

Although the corporate name changed from Barclays Bank to Absa group in 2018, the bank continued to trade under the Barclays brand in Seychelles while it underwent a transitioning process.

Van Schalkwyk said that the journey had been excellent and had been ongoing for three years requiring the support of their customers and commitment from their staff.

Despite the change in name, all bank records will remain the same. Certain key services such as cheque books and ATM cards will also be changed in due course while others like the platform for internet banking has already been changed.

For customers, there will be no change to their account details and there will be no fee changes associated with the name change. The bank's branches will continue to operate as usual.

Local branches will continue to operate as usual despite the name change and Barclays ATM cards will continue to work until their date of expiry. (Thomas Meriton) Photo License: CC-BY

From Monday, February 10, all new cards and chequebooks will be issued under the Absa brand while Barclays branded cards will continue to work as normal until their date of expiry.

At the ceremony, the deputy chief executive of Absa, Peter Matlare, expressed his heartfelt respect for what the Seychellois have achieved in transforming a business that will bring about many opportunities for Africans.

He added that Absa would retain the strong legacy of Barclays "bringing possibilities that will not only transform the lives of the rich, but also that of the ordinary Seychellois."  

Barclays bank has been operating in Seychelles, an archipelago in the western Indian Ocean, for over 60 years. The first branch of Barclays Bank was established in 1959 in Victoria, on the main island of Mahe. The branch moved to new premises in 1965 in Independence Avenue.

The governor of Seychelles' Central Bank, Caroline Abel, said that Barclays has been a household name, having had a presence in Seychelles for the past six decades.

She added that "our ability to meet our customers need and our provision of a good and reliable service is what contributes to our financial stability. Therefore, the transition of Barclays to Absa has gone smoothly and it comes at an opportune time where we are asking all banks to remain dynamic, by offering reliable service and digital channels that would create a more competitive environment."