MoroccoGhana Attijariwafa Bank Signs MoU with GCB Bank

Rabat – Attijariwafa Bank (AWB) has signed a memorandum of understanding with Ghana Commercial Bank (GCB Bank Ltd) during King Mohammed VI’s tour in Africa. On Friday, in the wake of the royal tour in Africa, Attijariwafa Bank and GCB Bank Ltd signed a Memorandum of Understanding to strengthen their collaborative efforts in correspondent banking, investment finance, trade and cooperation on projects in Africa.This agreement was signed by Mr. Mohamed El Kettani, CEO of Attijariwafa Bank Group and Mr. Samuel Sarpong, Chief Operating Officer and Chief Executive Officer of GCB Bank Ltd. Sarpong and Kettani expressed their satisfaction with this important cooperation agreement between the leading Ghanaian bank and the leading financial group in Morocco.According to El Kettani, the two institutions will undertake the necessary efforts “for the implementation of financial products and services to the best standards of the market, aimed at our respective customers.” They added that the signing of this memorandum stems from a “strong trust in the considerable and impressive potential of Ghana.”GCB Bank is the second largest institution in Ghana in terms of assets ($1.27 billion) and the largest in terms of branch network. Its shareholders’ equity is valued at $194 million and it employs more than 1,900 people.Originally owned by the Government of Ghana at its inception, the shareholding of Ghana does not exceed 21.4% at present. The remaining 78.6% is held by institutional and private investors. GCB Bank Ltd is also listed on the Ghana Stock Exchange.

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