Union Bank, Morocco’s Attijariwafa partner to boost cross-border trade

Joy Onuorah
Joy Onuorah

Union Bank of Nigeria has entered into a partnership agreement with Morocco’s Attijariwafa Bank in order to support their shared vision for Pan-African development.

With this business partnership, Union Bank which happens to be one of Nigeria’s oldest financial institutions, seeks to reach a wider audience outside of the country.

Customers of Union Bank in Nigeria would have access to Attijariwafa Bank’s commercial teams in its countries of presence, and vice versa.

Attijariwafa Bank is a major multinational commercial bank with headquarters in Morocco and more than 5,835 branches spread across 26 countries in Africa, Europe, the UK, the Middle East, and Asia.

For the benefit of their respective customers, Union Bank and Attijariwafa Bank will create new collaborative business prospects that support the trade financing and investment corridors between Nigeria and all of the nations where Attijariwafa Bank is present.

Chief Executive Officer of Union Bank, Mr. Mudassir Amray, spoke during the official signing ceremony of the Memorandum of Understanding in Casablanca and remarked, “This partnership agreement reflects the growth prospects we see for Union Bank as an institution as well as the value-enhancing opportunities we see for our Nigerian customers around Africa and beyond.

“Through this partnership with Attijariwafa Bank, we can provide support to our corporate customers 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 robust banking network in Africa.

General Manager in charge of International Retail Banking and Specialized Finance Subsidiaries of Attijariwafa Bank, Mr. Ismail Douiri, commented on the partnership, “As leading banks in our respective markets, Union Bank and Attijariwafa Bank Group commit to supporting the development of African economies through making intra-African trade and investment easier and promoting inclusive and sustainable development. This partnership is built on the complementarity in geographic footprints and expertise of both institutions.”

The lender’s delegate general manager of corporate and investment banking, Youssef Rouissi, remarked, “This partnership will provide ground support to Nigerian investors in our countries of presence, and reciprocally open new doors and opportunities in Nigeria for investors and operators based in Morocco and all our countries of presence in Africa, with local support from Union Bank.”

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