African business accounts for 26% of Attijariwafa bank’s consolidated net banking income, said the CEO of the group, Mohamed El Kettani during an interview with Jeune Afrique.
Mr. El Kettani explained that the bank’s expansion to Francophone African countries was due to cultural proximity. However, the bank is now planning on targeting new markets, including English and Portuguese speaking countries.
“Africa has a great need for universal banks,” he stressed, adding that there are expected investments of 100 billion dollars in the next ten years.
Mr. El Kettani also added that the bank expands its offers in order to meet the needs of the continent, particularly in terms of consulting, expertise, managing debt and savings mobilization.
Finally, the CEO affirmed that “Morocco is on the verge of a sophistication of financial tools, which will be extended to the stock market and private debt”.
The Moroccan Times.
