OREANDA-NEWS. June 16, 2014. Sberbank of Russia has entered into cooperation agreements with Morocco’s leading banks: Attijariwafa Bank Group and Banque Centrale Populaire.

At the signing ceremony Sberbank was represented by Andrey Ivanov, Head of Trade Finance and Correspondence Relations Division at Sberbank CIB, and Attijariwafa Bank Group and Banque Centrale Populaire were represented by – Chairman and CEO Mohamed Elkettani and Group Chairman Mohamed Benchaaboun, respectively.

The agreements envisage cooperation between Sberbank and these two major Moroccan banks, including interaction with Sberbank CIB, the corporate and investment banking business of the Sberbank Group. The documents establish priority areas of cooperation in banking, namely: trade finance, the documentary business, correspondent banking, syndications, custody services and financial markets.

Andrey Ivanov, Head of Trade Finance and Correspondence Relations Division at Sberbank CIB, commented: “We are delighted to add to the number of our foreign partners. This is an important step for the Sberbank Group as it continues to build on its international operations. I am certain that our cooperation will open new horizons for both companies. For example, partnership with Morocco’s largest banks will enable Sberbank to create a platform for potential operations in Africa; diversify our funding base, which extends to the Group’s subsidiaries, and broaden our interbank business, in particular trade finance.”