By: Ahmed Allam
Cairo - Mubasher: The chairman and general director of Attijariwafa Bank, Mohammed El Kettani, said on Sunday that his group will finish the expansion strategy for its unit in Egypt in three months.
On the sidelines of a press conference in Cairo, El Kettani said that the new strategy will determine the need for raising the bank’s capital, which will not be an obstacle considering that it will be in line with the Egyptian market’s rules and regulations.
The group will work on creating news investments to keep up with the demand of the Egyptian customers, he noted.
Last week, Attijariwafa Bank carried out the acquisition of Barclays Bank Egypt with a total value of $494.9 million ($9 billion), as shown by the data of the Egyptian Exchange (EGX).
Sources told Mubasher that the deal was completed over the counter on 9.951 million of the bank’s shares through 93 transactions.
