Union Bank of Nigeria and Attijariwafa bank have signed a partnership agreement to support the pan-African development strategy of the two financial institutions.
Union Bank, one of Nigeria’s oldest financial institutions, is looking to expand its reach beyond Nigeria through this business partnership with Attijariwafa bank.
Attijariwafa Bank, a leading multinational commercial bank based in Morocco with more than 5,835 branches in 26 countries in Africa, Europe, the United Kingdom, the Middle East and Asia, will provide access to its commercial teams to customers of Union Bank based in Nigeria in its countries of presence. and vice versa.
Union Bank and Attijariwafa bank will develop new joint business opportunities for their respective clients who seek to support trade finance and investment corridors between Nigeria and all countries where Attijariwafa bank operates.
Speaking at the official signing ceremony of the Memorandum of Understanding (MoU) in Casablanca, Mr. Mudassir Amray, Managing Director of Union Bank, said:
“This partnership agreement reflects the growth prospects we see for Union Bank as an institution as well as the value enhancement opportunities we see for our Nigerian clients in Africa and beyond. Thanks to this partnership with Attijariwafa bank, we can support our corporate clients seeking international growth and vice versa. We intend to accelerate cross-border transactions that will pave the way for long-term success by leveraging Attijariwafa bank’s strong banking network in Africa.
Commenting on this partnership, Mr. Ismail Douiri, Managing Director in charge of International Retail Banking and Specialized Finance Subsidiaries of Attijariwafa bank, said: “As leading banks in our respective markets, Union Bank and the Attijariwafa Group bank are committed to supporting economic development by facilitating intra-African trade and investment and by promoting inclusive and sustainable development. This partnership is based on the complementarity of the geographical footprints and expertise of the two institutions.
Mr. Youssef Rouissi, Deputy Managing Director – Corporate and Investment Banking, added: “This partnership will provide on-the-ground support to Nigerian investors in our countries of presence, and reciprocally will open new doors and opportunities in Nigeria for investors. and operators based in Morocco and in all our countries of presence in Africa, with the local support of Union Bank.