Attijariwafa bank and Union Bank strengthen their pan-African roots

The Moroccan commercial bank Attijariwafa bank and the Nigerian group Union Bank signed this week a memorandum of understanding for a commercial partnership with the aim of strengthening their pan-African ties and anchoring.

Union Bank and the multinational Attijariwafa bank announced, in a joint press release, the signing of a partnership agreement aimed at supporting a pan-African development strategy at the level of the two financial institutions. This is an opportunity for the signatories to seize new joint business opportunities, for the benefit of their customers, targeting the support of “trade finance and investment corridors between Nigeria and all the countries where the Attijariwafa bank group is present“.

According to Mudassir Amray, Managing Director of Union Bank, “cand partnership agreement reflects the growth prospects we project for Union Bank as an institution as well as the value creation opportunities we offer to our Nigerian clients in Africa and beyond. Thanks to this partnership with the Attijariwafa bank group, we can provide enhanced support to our client companies seeking international growth and vice versa. We intend to accelerate cross-border transactions that will pave the way for long-term success, leveraging Attijariwafa bank’s strong banking network in Africa“.

For his part, Ismail Douiri, Deputy Managing Director in charge of the International Retail Banking Division and Specialized Financing Subsidiaries at Attijariwafa bank, indicated that this agreement is very important since the two signatories represent ” benchmark banks in our respective markets, Union Bank and the Attijariwafa bank group are committed to supporting the growth of African economies by supporting intra-African trade and investment, and promoting sustainable and inclusive development,” adding that “this partnership is built on the complementarity of the geographies and expertise of each of the institutions “.

Youssef Rouissi, Deputy Managing Director in charge of the Corporate & Investment Banking division, meanwhile, underlined that “this partnership will make it possible to provide field support to Nigerian investors in our countries of presence, and to reciprocally open up new opportunities in Nigeria for investors and operators in Morocco and all the countries in which the Attijariwafa bank group is present in Africa, with local support from Union Bank“.

It should be noted that Attijariwafa bank, as “leading multinational commercial bank based in Morocco with more than 5,835 branches in 26 countries worldwide“. The bank is present in Africa, Europe, the United Kingdom, the Middle East and Asia.

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