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Thursday 28 October 2010

Attijariwafa Bank of Morocco Plans to Open New Branches in West Africa

Posted on 17:30 by google

Attijariwafa Bank, the largest publicly traded lender in Morocco, is planning to open more branches in West Africa, Co-Chief Executive Officer Ismail Douiri said.

“We want to expand around the markets we already have in West Africa,” Douiri said yesterday in an interview at the World Economic Forum in Marrakesh.

Attijariwafa operates in 22 countries and has branches in countries including Congo, Gabon, Guinea Bissau, Mali, and Senegal, according to its website. Douiri said the company plans to open a branch in Burkina Faso before the end of the year.

Profit at the bank rose 17 percent in the first half of the year, the bank announced on Sept. 28. Net income advanced to 2.3 billion Moroccan dirhams ($276.2 million).

The bank received approval two years ago in Mauritania to set up a commercial banking division in conjunction with Banque Centrale Populaire. Earlier this year, they acquired 60 percent of the Mauritanian branch of French bank BNP Paribas. 

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