One of the largest acquisition deals conducted in the banking sector
Attijariwafa Bank reaffirms its strong presence in the Egyptian market
The bank has successfully managed to operate under its new name and trademark and have attended diverse conferences
Following the acquisition of 100% of “Barclays Bank Egypt” shares by “Attijariwafa bank” on May 3rd 2017, Attijariwafa bank Group had announced operating under the new identity “Attijariwafa bank Egypt” starting November 3rd 2017. Accordingly, the bank’s name and trademark had changed on all transactions conducted in the bank’s 55 branches and ATM machines nationwide.
The rebranding announcement came in continuation of completing the acquisition of 100% of “Barclays Bank Egypt” shares by “Attijariwafa bank that took place on March 3rd 2017. Ever since the rebranding announcement that took place on November 3rd, 2017, the bank had been operating under its new identity “Attijariwafa Bank Egypt”. It’s worth mentioning that the acquisition of Barclays Egypt is considered one of the largest deals that took place in the Egyptian banking sector, where afterwards Attijariwafa Bank Egypt have set its footprints in the market by participating in strategic yet important conferences especially during the last quarter of 2017.
One of the key conferences the bank had participated in was Eruomoney Egypt Conference, where it unveiled its strategy in Egypt in the upcoming period. The bank’s participation came in line with its strategy which included levering Egypt’s unique geographical position that is considered a port to Middle East and North Africa region ; in addition to leveraging the strategic market it acquires with its diversified investment opportunities, especially in the banking and financial sector.
In regards to evolving and developing the innovation and technological solutions that are considered vital tools used to achieve financial inclusion, Attijariwafa bank Egypt have participated in Cairo ICT exhibition for its 21st round as a golden sponsor. During the exhibition, the bank sponsored the “Innovation ARENA Award” competition, which included the participation of 50 groups of young innovators with promising ideas in the fields of health, education, social media, smart villages, digital payment and electronic applications that serves disabled people.
Attijariwafa bank Egypt officials have announced the winners of the Innovation Arena Competition and have offered them financial support worth EGP 300 thousand. Moreover, the competitions were announced three months prior the conference, where more than 120 ideas were collected from diverse Egyptian governorates. The closing ceremony included the participation of 47 teams of young innovators with promising ideas in the fields of health, education, social media, smart villages, digital payment and electronic applications, which serves disabled people. All the participants have passed through successive elimination phases until selecting the final stage winners.
When it comes to strengthening the African trade relations, Attijariwafa bank and the African Export-Import Bank (Afreximbank) have signed a memorandum of understanding (MOU) to collaborate in developing a large framework of cooperation African-wide. On the sidelines of The Africa 2017 Forum, Mr. Mohamed ELKETTANI, Chairman and CEO of Attijariwafa bank Group and Dr. Benedict ORAMAH, President of Afreximbank signed the MOU
On the other hand and in line with the group’s CSR strategy that focuses on developing its CSR initiatives that aims at achieving economic growth and individual prosperity, Attijariwafa bank Egypt have participated in the campaign “Accessibility Matters” as a platinum sponsor. The campaign was launched by Helm” foundation, in association with Drosos Company and Bassita foundation. The collaboration was expected to create a convenient track around Cairo, subway and bus stations, which specifically matches the needs of people with disabilities in Egypt.
Funding such campaign have served the bank’s vision, especially after choosing Cairo University area -with nearly quarter millions of people pass by it on a daily basis- as a priority by “Helm”. Choosing this vicinity have shed the light on the bank’s vital role played in creating a more accessible environment for those people, aiding their learning and working experiences. Consequently, achieving such objectives will contribute to the greater goal of achieving economic growth through the inclusion and participation of all members of the Egyptian society.