This archive report was first published on 21 November 2019.
As of September 30, 2019, Barclays Bank Kenya had invested heavily in technology and brand modernization, aimed at enhancing the service experience.
According to Barclays, the transition to Absa is now 80% complete, with a significant investment of Ksh 910 million.
"Over the next few months, there will be the introduction of Absa's warm and vibrant red colour palette to the branches, ATMs and other assets," Barclays announced.
During the third quarter of 2019, the lender's profit after tax increased by 14% to Ksh 6.17 Billion, compared to Ksh 5.43 Billion in the same period in 2018.
Barclays' total assets also grew by 12% to Ksh 360 billion, driven by a 7% increase in total deposits to Ksh 235 billion.
Customer loans and advances for the period grew by 9% to Ksh 194.2 billion, with Timiza lending Ksh 17 billion and boasting a cumulative 3.8 million customers.
Barclays also reported a 50.9 efficiency ratio, driven by revenue growth and a 5% reduction in total costs, with operating expenses dropping by 5% to Ksh 12.6 Billion.
