(Adds details and background)
RABAT, Oct 19 (Reuters) - Attijariwafa Bank< ATW.CS>, one of Morocco's biggest lenders, has bought Rwandan bank Compagnie Gnrale de Banque Limited (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.
Like other large Moroccan companies, the bank has been expanding in Africa. It has subsidiaries in Tunisia, Ivory Coast, Senegal, and Mali, among other countries, as well as branches in Europe.
Earlier this month, Attijarwafa bought Egyptian business of Britain's Barclays
BARC.L
. The two banks did not give a price for the transaction, although sources previously told Reuters they valued the business at around $400 million.
($1 = 741.0000 Rwandan francs) (Reporting by Aziz El Yaakoubi, additional reporting by Clement Uwiringiyimana in Kigali, editing by Louise Heavens) ((aziz.elyaakoubi@thomsonreuters.com; +212623934595)(;))
RABAT, Oct 19 (Reuters) - Attijariwafa Bank< ATW.CS>, one of Morocco's biggest lenders, has bought Rwandan bank Compagnie Gnrale de Banque Limited (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.
Like other large Moroccan companies, the bank has been expanding in Africa. It has subsidiaries in Tunisia, Ivory Coast, Senegal, and Mali, among other countries, as well as branches in Europe.
Earlier this month, Attijarwafa bought Egyptian business of Britain's Barclays
($1 = 741.0000 Rwandan francs) (Reporting by Aziz El Yaakoubi, additional reporting by Clement Uwiringiyimana in Kigali, editing by Louise Heavens) ((aziz.elyaakoubi@thomsonreuters.com; +212623934595)(;))
