Absa Bank Seychelles Limited

Absa Bank Seychelles Limited, formerly known as Barclays Bank Seychelles Limited, is a commercial bank in Seychelles. It is licensed by the Central Bank of Seychelles, the central bank and national banking regulator.[3]

Absa Bank Seychelles Limited
Subsidiary of Absa Group Limited
IndustryFinancial services
Founded1959 (1959)
HeadquartersVictoria House, State House Avenue, Victoria, Seychelles
Key people
Jean Weeling Lee
Chairman[1]
Johan Van Schalkwyk
Managing Director and CEO[2]
ProductsLoans, checking, savings, investments, debit cards
Number of employees
130 (2006)
Websitewww.absa.sc/personal

Location

The bank's headquarters and main branch are located at Victoria House, State House Avenue, Victoria, Seychelles.[3] The geographic coordinates of the bank's headquarters are:04°37'24.0"S, 55°27'08.0"E (Latitude:-4.623333; Longitude:55.452222).[4]

Overview

The bank is involved in meeting the banking needs of individuals, small and medium-sized businesses (SMEs), and large corporations. It is one of the nine commercial banks licensed in the country.[3] Absa Bank Seychelles Limited is a subsidiary of Absa Group Limited, the Pan African financial services conglomerate headquartered in South Africa, with subsidiaries in 12 African countries, whose total assets exceeded US$87 billion as at 30 June 2017.[5]

History

The bank opened in the country 1959, as a branch of Barclays Plc of the United Kingdom. The bank operated in that capacity until 2000, when Barclays Bank Seychelles Limited was incorporated. In 2006, the bank served approximately 35,000 customers, through 5 branches, 7 ATMs and 130 members of staff. In 2013, the bank became a member of Barclays Africa Group, in which Barclays Plc had a 62.3 percent majority shareholding.[6]

Name change

Beginning in October 2019, Barclays Bank Seychelles Limited began re-branding to Absa Bank Seychelles Limited.[2] The process concluded on 10 February 2020, when the legal and business names of the bank changed to Absa Bank Seychelles Limited.[1]

Governance

The bank is governed by a board of directors. The chairman of the board is Jean Weeling Lee, one of the non-executive directors.[1] The managing director and CEO is Johan Van Schalkwyk.[1]

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See also

References
  1. Seychelles Nation (11 February 2020). "Barclays Bank (Seychelles) Limited officially becomes Absa Bank (Seychelles) Limited". Seychelles Nation. Victoria, Mahe, Seychelles. Retrieved 26 March 2020.
  2. Seychelles Nation (12 October 2019). "Barclays Bank Seychelles prepares for name change to Absa". Seychelles Nation. Victoria, Mahe, Seychelles. Retrieved 26 March 2020.
  3. Central Bank of Seychelles (March 2020). "List Of Commercial Banks in Seychelles". Victoria, Mahe, Seychelles: Central Bank of Seychelles. Retrieved 26 March 2020.
  4. Google (26 March 2020). "Location of the Headquarters of Absa Bank Seychelles Limited" (Map). Google Maps. Google. Retrieved 26 March 2020.
  5. Relbanks.com (July 2017). "Profile of Barclays Africa Group (now Absa Group Limited)". Relbanks.com. Retrieved 26 March 2020.
  6. "History of Barclays Bank Seychelles Limited". London: Barclays Bank Archives. 2020. Retrieved 26 March 2020.

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