(Seychelles News Agency) - The corporate name of Barclays Africa Group has officially changed to Absa Group, but the daily operation, services and products being offered by the Barclays Bank Seychelles will not be affected, said the managing director.

“While our parent name has changed today, our clients and customers can continue to bank with us as confidently as they always have,” said Johan Van Schalkwyk in a press conference on Wednesday.

Van Schalkwyk said that “we are here to stay, working with all our stakeholders to grow a better Seychelles. We remain committed to delivering mutual benefits to our customers, communities and our countries.”

The managing director of Barclays Bank Seychelles added that the name change signals the start of a new era for the group as Absa is a standalone African banking group with deep roots on the continent and more than 100 years of experience in Africa’s banking sector.

“Right now we will continue to trade under the Barclays brand in Seychelles even though our parent name has changed to Absa Group Limited.”

The bank’s name will only be changed by 2020, as the transformation and rebranding is being carried out in phases where the blue colour of the Barclays group will change to red for the Absa group.

The chairman of Barclays Seychelles Board, Jean Weeling Lee, said that the name change will facilitate banking in Seychelles, a group of 115 islands in the western Indian Ocean.

Weeling Lee said that with the change, the Barclays Bank in Seychelles will be different than other banks in the island nation and will serve as a leading example to other local banks.

The rebranding was part of a deal in May last year that saw the UK-based Barclays sell Barclays Africa Group Limited to the South African Absa Group.

The chief executive of Absa Group, Maria Ramos said, “Our new brand is an expression of our new group identity as a standalone African bank in a digital era.”