Morocco’s Attijariwafa Sells 8% Stake in Tunisian Unit

 In news

Moroccan lender sold stake in Attijari Bank Tunisie to an Ivory Coast institutional investor which it declined to name, Chief Executive Officer Mohamed El Kettani tells reporters in Casablanca.

* Attijariwafa’s stake after the sale is 67%;
* Attijariwafa is open to selling a stake in its Islamic banking unit, Bank Assafa, to a partner with a successful track record in Islamic banking: Boubker Jai, managing director of investment banking at Attijariwafa;
* Bank Assafa currently doesn’t need financing, is sufficiently capitalized for its growth plans;
* Plans to expand branches of Bank Assafa to 30 by year-end;
* NOTE: Morocco’s Attijariwafa Sees Egypt Unit as Major Driver of Growth. Source: Bloomberg

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