At an event held in Zanzibar on Friday, the bank also said it wanted to show appreciation to customers for their support.
BBT’s Managing Director, Abdi Mohamed said the transition to Absa is proceeding as planned. “We have taken a sequenced approach and expect some branches to reflect several elements of the new brand in the first half of December, while some branches will retain the current look,” Mohamed said.
He said the intention is to take customers and the public through the transformation journey visually while continuing to operate and trade as Barclays Bank Tanzania Limited until the name officially changes after approval by the regulator.
“Barclays is committed to serving its customers and we are proud of the momentum we have built over the past three years. Our commitment to our clients has been demonstrated in the successful execution of key financing transactions amounting to 529bn/- across sectors such as oil & gas, public sector, manufacturing and agriculture,” he noted.
Responding to a question on whether customers can have the same confidence in Absa as they had in Barclays, the bank’s Head of Retail Banking, Oscar Mwamfwagasi said that Absa Group is committed to building on Barclays' heritage in Africa and the strengths is already on the continent.
“We have a deep history and local knowledge in Tanzania. Our main products and services haven’t changed and our customers can bank with us as confidently as they always have,” Mwamfwagasi said.
Absa Group is one of the largest banking groups in Africa, with a balance sheet of more than USD 91 billion, as well as new systems with robust security provisions, he noted.
“We will not ask any customer for additional information during this time, and all customer account details will remain the same before and after the transition,” he assured.