Barclays authoritatively becomes Absa Bank Uganda

Absa Bank Uganda, an auxiliary of Absa Group Limited has on Monday gotten the permit to work and exchange under its new name from Bank of Uganda. cyclonetimes
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Absa Bank Uganda, an auxiliary of Absa Group Limited has on Monday gotten the permit to work and exchange under its new name from Bank of Uganda.

In the past known as Barclays Bank Uganda, the name change denotes the beginning of another time for the bank’s tasks.

The permit given to the bank’s Managing Director, Nazim Mahmood by Prof. Emmanuel Mutebile, Governor, Bank of Uganda at the Central Bank head office on Monday.

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Absa Bank Uganda

“Today we start another part as Absa Bank Uganda Limited, receiving our parent organization’s name and brand while holding our permanent promise to Uganda and its people,”Nazim said.

The organization, which has been working in Uganda for close 92 years, repeated its pledge to the nation’s development and monetary advancement under the Absa brand.

“We have put resources into pivotal segments of improvement of the national economy, including exchange, horticulture, SMEs, foundation and speculations. We will keep on assuming a basic job by putting resources into these divisions without disregarding the common resident. For example, who looks for quality budgetary administrations and safe ventures for their well-deserved cash,” said Mahmood.

Mutebile praised the bank for adding to the development of the financial division in the nation. Also, it encouraged them to keep on conveying quality and moderate money related to administrations.

“Key to our motivation is the arrangement of moderate monetary administrations to Ugandans particularly the country populace. For example, those who remain unbanked and in this way monetarily avoided. We are quick to see a coherence with Absa in the arrangement of value budgetary administrations. Also, drive the private segment improvement motivation,” Mutebile said.

As indicated by the bank authorities, there won’t be any change to their record subtleties. There won’t be expense changes related to the name change though the bank offices will keep on working not surprisingly.

From today, November 11, 2019, all the new cards and checkbooks will be given under the Absa brand. However, Barclays cards will keep on functioning as usual until their date of expiry.

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For clients with Barclays’ checkbooks, they can keep on utilizing them until April 2020.

Mahmood reaffirmed that the bank would stay a critical player in the banking. Also, money related administrations part in Uganda and a supporter of Uganda’s economy.

“As Absa, our aspiration is to turn into a carefully driven bank that is based on the consistently changing needs of clients. We accept we have a task to carry out and plan to use computerized innovation to grow reach. In addition and access to money related administrations yet additionally give moderate administrations.” he said.

As a major aspect of the bank’s money related incorporation motivation, it declared that it currently had a system of 450 dynamic operators spread the nation over offering office banking administrations and a high volume of exchanges totaling to 248,000 this year alone.

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