Barclays completes sale of Egypt unit to Morocco's Attijariwafa Bank

Barclays completes sale of Egypt unit to Morocco's Attijariwafa Bank
 

Barclays (BARC.L) has completed the sale of its Egyptian unit to Morocco's Attijariwafa Bank (ATW.CS), the British bank said on Tuesday, as it continues to dispose of assets not deemed core to a new strategy focussed on the United States and Britain.
The sale will result in a reduction of about 2 billion pounds in the bank's risk-weighted assets, Barclays said, boosting its core capital ratio by about 0.1 percent.
Reuters reported Attijariwafa's interest last month.
(Reporting by Lawrence White; editing by David Clarke)
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4 October 2016 in Business, Views: 57
Source: Reuters
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