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Barclays bank to trade as Absa Kenya at the NSE

Category : Business | Sub Category : | Posted on: 2020-02-19 17:02:29

Barclays bank to trade as Absa Kenya at the NSE

Barclays Bank of Kenya has rebranded to Absa Kenya after a shareholder agreement. The bank will trade at the Nairobi Security Exchange market as ABK bank. Absa Bank of Kenya was officially launched at the Nairobi Security Exchange headquarters in Nairobi on Wednesday.

Barclays bank started trading in the Nairobi Securities Exchange (NSE) in 1987. The bank has been in business in Kenya for 104 years and was the first bank to open its shareholding to the public in 1986.

The Chairman of Absa Bank of Kenya Charles Muchenye said, “We have been a bank of many firsts ever since we set foot in Kenya in 1916. As we take on our new identity. Our customers should expect this innovative spirit to carry on into the future.”

Nairobi Bourse was stopped trading the shares of Barclays Kenya on Monday to ease the lender’s conversion. The transition comes a few days after the lender finalized re-branding in Kenya, an initiative that was started in 2018. The re-branding will be effected in 12 countries across Africa where Barclays bank has been operating.

Absa Bank Managing Director Jeremy Awori assured clients of the defunct Barclays Bank of a reliable service delivery.

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