Cairo – May 3, 2017 In accordance with the agreement between Attijariwafa bank and Barclays Bank PLC signed on October 4, 2016, the acquisition by Attijariwafa bank of 100% of the capital of Barclays Bank Egypt was finalized on Wednesday May 3, 2017 after obtaining all the necessary regulatory approvals.This strategic operation allows Attijariwafa bank Group to strengthen its geographical presence in North Africa and represents an important milestone for its development in the Middle East and East Africa. It is worth mentioning that this acquisition is considered a strategic milestone in the history of two of the largest banking institutions. Remarkable efforts have been exerted to ensure the success of the acquisition and integration process. Barclays Bank Egypt commits to the strong partnership it had built with its customers over the years and will continue to deliver the best and most special services to its customers.
This acquisition also favors the development of economic exchange between Egypt and Morocco on the one hand and between Egypt and the Group’s other countries of presence on the other. The Egyptian market has multiple assets: its geo-strategic positioning, its demographic dynamism and its great potential for banking make it a market with favorable prospects for development.
The acquisition of Barclays Bank Egypt strengthens Attijariwafa bank’s choice of establishing a presence in Egypt through a well-known bank covering the universal banking businesses, and benefiting from high-quality human capital and strong assets.
Attijariwafa bank aims to make a significant contribution to financial inclusion in Egypt and to its economic development by leveraging its skills and assets, in particular for the benefit of SME’s and the middle class by deploying its distinctive distribution model and technology, considered world class.
In this regard, Attijariwafa bank intends to capitalize on its complete offering and expertise, covering all banking and other financial business lines; developed over years of experience.
About Attijariwafa bank
- Attijariwafa bank has become the first banking and financial group in the Arab Maghreb and the West African Economic and Monetary Union (WAEMU) and a key player in the Economic and Monetary Community of Central Africa (EMCCA). In addition to banking activities, the Group operates through subsidiaries specialized in financial sectors: insurance, mortgage loans, consumer credit, leasing, asset management, stock brokerage, private banking, financial advisory, factoring…
- The Group has more than 17,600 employees and manages a portfolio of nearly 8.4 million customers.
- Attijariwafa bank’s headquarters are based in Morocco and the bank operates in 25 countries through majority-controlled subsidiaries:
- In Africa: Tunisia, Mauritania, Senegal, Burkina Faso, Guinea Bissau, Mali, Côte d’Ivoire, Congo, Gabon, Cameroon, Togo, Benin and Niger.
- In Europe: France, Belgium, Germany, Italy, Spain, the Netherlands. It is also present through representative offices in London, Geneva, Montreal, Abu Dhabi, Dubai, Tripoli and Riyadh.
Attijariwafa bank’s key figures as at end-2016 (in million US dollars)
- Net banking income: 1,951
- Consolidated net profit: 560
- Net income, Group share: 471
- Consolidated shareholders’ equity: 4,702
- Total consolidated balance sheet: 42,525
- Total network: 3972 Branches
- Number of customers: 8.4 million
- Total workforce: 17,696
Awards received by Attijariwafa bank Group in 2016
- Attijariwafa bank has won the prestigious «African Bank of the Year» Award by African Banker.
- Attijariwafa bank, the «1st francophone bank» in the African ranking of francophone banks by African Banker.
- The world’s leading financial market magazine, Euromoney, has awarded Attijariwafa bank the «Best Bank in Morocco» award.
- Attijariwafa bank has been voted «Best Bank in Morocco» by The Banker Magazine, publication of the Financial Times Group.
- 2 awards granted to Attijariwafa bank by Forbes: «1st Moroccan bank» according to the ranking of the 2,000 largest private companies in the World, and «1st Moroccan bank» in the top 100 of the Arab world.
- Attijariwafa bank has received 3 awards by EMEA FINANCE: «Best Bank in Morocco»,
- «Best Investment Bank in Morocco», Wafa Gestion has been voted «Best Asset Manager»
- Attijariwafa bank has received 4 awards from Global Finance:
- «Moroccan Bank of the Year»,
- «Best emerging markets bank»,
- «Safest Moroccan bank»,
- «Best supplier of ForEx in Morocco».
- Within the framework of the large investigation carried out by Jeune Afrique on the top 200 African banks, Attijariwafa bank ranks 8th in terms of Total Balance Sheet and 7th in terms of GNP.
- About Barclays Bank Egypt
Barclays is a major global financial service provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. The Bank has an extensive international presence in Europe, USA, Africa and Asia. Barclays operates in over 50 countries and employs over 130,000 employees.
Barclays Bank Egypt has 150 years of world class financial services and now operates through a wide network of 56 branches and 72 ATMs covering almost all the Egyptian governorates. Its highly dedicated and skilled 1,500 employees proudly serve over 180,000 customers nationwide.