Barclays Bank of Kenya’s #ticker:BBK looming change of trade name to ABSA has run into strong headwinds after a Kenyan company moved to court for orders stopping the shift on grounds that it reserved and has been using the name for more than a decade. ABSA Kenya Limited is seeking to permanently restrain Barclays from adopting ABSA as the trade name in line with the recent changes in the bank’s ownership at the continental level.
ABSA Kenya, which was incorporated in 2005, says it reserved the name with the registrar of trademarks for exclusive use and that it has incurred huge financial losses since Barclays announced plans to rebrand.
