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VTB Bank signs a cooperation agreement with Attijariwafa Bank

10 June 2014


In the framework of the Russia — Morocco Business Forum, a strategic cooperation agreement between VTB and Attijariwafa Bank has been signed.   

The document was signed by VTB’s First Deputy President and Chairman of the Management Board Vasily Titov and Attijariwafa Bank’s President Mohamed El Kettani on 10 June.   

Under the agreement the parties plan to develop their partnership across various areas of interbank cooperation. In particular, the document provides for cooperation on investment, documentary credit operations, as well as project and trade financing.   

Mr Titov noted that «signing this agreement will expand VTB’s opportunities on the African continent, and will boost business between Russia and Morocco.»   

Mr. Mohamed EL KETTANI, Chairman and CEO of Attijariwafa bank group said: ‘This agreement aims at fuelling the business flows dynamics between our two groups and provide cost-effective solutions to our respective customers’.

Established in 1904, Attijariwafa bank, undisputed market leader of Morocco’s banking and financial services industry, is the No.1 savings institution and No.1 lender to the domestic economy. It is also ranked No.1 in investment banking and financial market activities in Morocco.

Attijariwafa bank is also the No.1 banking group in North Africa and the WAEMU (West African Economic and Monetary Union) region while being a major player in the CAEMC (Central Africa Economic and Monetary Community) region.

With more than 16 000 employees and operations in 23 countries, Attijariwafa bank has more than 6.8 million customers. The Group has the largest branch network in Morocco and in Africa.

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