Seychelles: Barclays Bank Seychelles to Begin Blue-to-Red Transformation Into Absa

Barclays Bank Seychelles will start to roll-out the new Absa brand design at its branches as of Monday, a top official said.

The roll-out is part of the rebranding ahead of the bank's full transformation which will include changing the name to Absa group by mid-2020.

The bank's representatives, led by the Managing Director Johan Van Schalkwyk, met with local media on Friday to give details about the transformation and the extensive media campaign to inform its customers about the change.

Barclays Bank Seychelles said it is taking a sequenced approach to its change plans and some branches will start to reflect several elements of the new brand before others.

"Even though our name has not yet changed from Barclays Bank Seychelles, we will begin to prepare for the change by introducing Absa's warm, vibrant red colour palette in some of our assets, given the significant size of the rebranding task ahead. This will include bank branches and ATMs and will ensure we are fully ready by the time our legal name changes," said Johan Van Schalkwyk.

The first branch to undergo the physical change is the one located on Market Street in Victoria, the capital of Seychelles, an archipelago ion the western Indian Ocean.

The Bank added that even though some branches will start to look like Absa, it will continue to operate and trade as Barclays Bank Seychelles until its name officially changes in June 2020.

"All customer services will continue as usual throughout the brand change process, and customers will not be required to take any action during this period," said Van Schalkwyk.

Customers will not be asked additional information during this period and all bank records will remain the same before and after the transition.

The rebrand is in line with Barclays Bank Seychelles' parent company Absa Group's 2018 decision to rebrand all operations across the continent to Absa.

"While Barclays continues to have a significant stake in Absa Group at 14.9 percent stake, it is no longer our majority shareholder, and the Group has undergone an extensive managed separation process to detach its operations in Africa from those of Barclays PLC," said the managing director.

The rebranding exercise is being carried out in phases since last year and it includes the opening of new centres, new colour scheme, uniforms, Information Technology system and new product roll-outs.

Absa Group Limited which is listed on the Johannesburg Stock Exchange in South Africa has its presence in 12 African countries.

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