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9 months ago
Moroccan bank Attijariwafa buys Rwanda's Cogebanque -sources
October 19, 2016 / 12:56 PM / 9 months ago

Moroccan bank Attijariwafa buys Rwanda's Cogebanque -sources

1 Min Read

RABAT, Oct 19 (Reuters) - Attijariwafa Bank< ATW.CS>, one of Morocco's biggest lenders, has bought Rwandan bank Cogebanque, sources close to the deal said on Wednesday.

The deal will be signed during a visit by the Moroccan king to Rwanda, where he arrived on Tuesday, the sources said.

Cogebanque is Rwanda's third largest bank by assets, which reached 167.5 billion Rwandan francs ($226.05 million) at the end of the third quarter of 2015, according to the company.

Attijariwafa Bank did not immediately respond to a request for comment.

$1 = 741.0000 Rwandan francs Reporting by Aziz El Yaakoubi, additional reporting by Clement Uwiringiyimana in Kigali, editing by Louise Heavens

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