Seychelles

Entered market 

1959

Business began in the Seychelles after the establishment of a branch of Barclays Bank (Dominion, Colonial and Overseas) in 1959 at Victoria Mahe. This branch was moved to new premises in 1965 in Independence Avenue, and was joined by a sub-branch in 1966, which was opened at Grand Anse, Praslin. Following Seychellois independence, a new sub-branch was opened in 1976 in Victoria, and Barclays donated £10,000 towards the new reclamation area there. In 2000, Barclays Bank (Seychelles) Limited was incorporated. Following this, in 2006, prestige and internet banking were launched on the islands, with 5 branches, 7 ATMs, and 130 members of staff serving over 35,000 customers, with 30% of the market share. 2009 saw the 50 year anniversary of Seychellois operations. In 2012, Barclays Bank (Seychelles) became the first in the country to launch internet banking for personal customers. In 2013 it was announced that Barclays’ African businesses would be incorporated in a new business grouping, Barclays Africa Group Ltd (BAGL), of which Barclays owned 62.3%. In May 2016 Barclays announced plans for a progressive reduction of its shareholding in BAGL, to be completed within 3 years, as part of its long term strategy and in response to prevailing regulatory capital rules and the UK bank levy, initially to 50.1% of BAGL’s capital. In 2017 the holding was further reduced to 16.4%. Full separation was announced in 2018, with provision for Barclays’ branding to be used until 2020.

Traded as

Barclays International