Premium banker Barclays Bank has officially rebranded to Absa Kenya.
This is after the bank announced Monday that it has received all requisite shareholder and regulatory approvals to finally change its brands.
“The bank will commence trading with effect from February 10, 2020, as Absa Bank Kenya Plc,” the bank said in a statement.
“All contractual relationships and obligations that the bank has with its customers, partners and other shareholders are not affected by this change of name.”
The bank bid farewell to its legendary blue eagle logo, embracing the warm red Absa group brand.
According to Business Daily, Absa Kenya has already repainted most of its branches and rolled out new debit and credit cards donning the new brand.
Why ABSA Kenya…
The name change was triggered by the decision of London-based Barclays Group Plc to significantly cut down its stake in Barclays Africa and consequently in Barclays Kenya.
It gave a condition to Barclays Africa and its subsidiaries to drop the name by mid-2020. Barclays Plc now owns 14.9 percent stake in Absa Kenya, down from controlling stake of 68.5 percent.