Morocco’s Attijariwafa bank Group has officially taken over British Barclay’s Egypt branch, reports say. Attijariwafa bank Group, Morocco’s leading bank group, won the transaction after beating several global bank groups, among which Emirati NBD headquartered in Dubai. Barclay’s Egypt branch operates 56 local branch offices in 18 cities and employs 1,500 staff. The British bank decided to sell out its Egyptian branch in order to scale up gains for its shareholders and reduce costs. Attijariwafa bank has been crowned Africa’s 2016 leading bank.

Source: The North Africa Journal October 05, 2016 15:00 UTC