Browsing: Barclays Africa Group

Barclay's rebranding as Absa Bank in Mozambique

Barclays Bank in Mozambique is to rebrand as Absa Bank from November 11, Rui Barros the Deputy Director announced yesterday.

Speaking at a press conference in Maputo, he said they have introduced the new logo at ATMs and counters in Mozambique to ensure a gradual and natural change.

The bank is in 49 locations in Mozambique with two-thirds of the brand change already underway and operations expected to be concluded in the next two months.

Mr Barro assured that cards, accounts, access keys and cheques in Mozambique would remain active and functional during the rebranding period. He added that the Barclays branded cards and checks would not be restricted after November 11th and will gradually replace them over the coming months.

“The bank is about to enter a new stage, with great opportunities that will allow us to realize our ambition for growth as an independent African bank,” Mr Barros …

Barclays Bank (Kenya) has registered a flat growth in profit for the first quarter of 2019 as ongoing rebranding to Absa continues to impact its balance sheet.

The Nairobi Securities Exchange (NSE) listed lender has reported a Ksh1.89 billion (US$18.7million) net profit for the period under review, a marginal 0.5 per cent growth compared to Ksh1.88billion (US$18.6million) posted in a similar period last year.

READ:Barclays Bank Q1 profit up 8% despite squeeze on loan book

This is despite gains on interest earnings and reduced expenses during the quarter.

Quarterly results published through the NSE shows total interest income edged up 7.2 per cent to close at Ksh7.4 billion (US$73million), compared to Ksh6.9 billion (US$68million) posted in Q1 of 2018.

Interest income from loans and advances to customers was Ksh5.4 billion, a 3.8 per cent up from Ksh5.2 billion in a corresponding period last year.

That from government securities and …