Morocco’s Attijariwafa to rebrand acquired Egyptian Barclays business in mid-Nov.

Morocco’s Attijariwafa Bank plans to rebrand its recently acquired Barclays’ assets in Egypt under the Attijari Bank Egypt by mid-November, sources with direct knowledge said Sunday.

Britain’s Barclays signed in October last year an agreement to sell 100 percent of its Egyptian business to Attijariwafa Bank, one of Morocco’s largest banks, but the value of the deal, which closed in May, has not been disclosed by either side.

Media reports said that the Barclays Egypt business was valued at between $400 million and $500 million.

“Attijari Bank Egypt will be the group’s entryway to Gulf states and East Africa,” CEO Mohamed El Kettani said in former statement last May.