Union Bank and Attijariwafa bank have signed a commercial partnership memorandum of understanding to strengthen their pan-African roots

Union Bank and Attijariwafa bank have signed a commercial partnership memorandum of understanding to strengthen their pan-African roots

Union Bank (Nigeria) and the Attijariwafa bank group have signed a partnership agreement to support the pan-African development strategy of the two financial institutions.

Attijariwafa bank, a leading multinational commercial bank based in Morocco with more than 5,835 branches in 26 countries around the world, including Africa, Europe, the United Kingdom, the Middle East and Asia, will offer customers of Union Bank based in Nigeria access to its commercial system in its countries of presence and vice versa. Union Bank, one of Nigeria’s oldest financial institutions, is looking to expand its reach beyond its borders through this business partnership with Attijariwafa bank group.

Union Bank and the Attijariwafa bank group will develop new joint business opportunities, for the benefit of their respective clients, aimed at supporting the trade finance and investment corridors between Nigeria and all the countries where the Attijariwafa bank group is present.

Speaking at the official ceremony, Mr. Mudassir Amray, Managing Director of Union Bank, said:

This 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. »

Also commenting on this partnership, Mr. Ismail Douiri, Deputy Managing Director in charge of International Retail Banking and Specialized Financing Subsidiaries at Attijariwafa bank, declared that “as reference 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.“, then to emphasize that ” this partnership is built on the complementarity of the geographies and expertise of each of the institutions “.

In turn, Mr. Youssef Rouissi, Deputy Managing Director in charge of the Corporate & Investment Banking division recalled 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. »