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“We are delighted to welcome our first Italian financial institution to the CFC ecosystem. We see this move as a very positive sign, validating once again our position as a pan African financial centre dedicated to the development of business and investment activities in the region”
The office will be managed by Abdelkrim Sbihi, aged 43, and formerly the CFO of an important Group operating in the retail sector in Morocco. Abdelkrim Sbihi has acquired experience in Morocco, Europe and the United States and has worked at Credit Agricole Morocco and the Attijariwafa Bank holding a variety of positions including Head of the Foreign Exchange Desk, Corporate Trader and Correspondent Banking Officer.
This initiative forms part of a broader UBI Banca strategy designed to expand the services needed to support the operational and commercial growth of Italian businesses abroad.
“Our presence in the more economically active areas of the country has allowed us to observe the effect that foreign demand has had in recent years on the ability of Italian businesses to grow” said Sergio Passoni, Head of International Activities at UBI Banca Group. “As a consequence of this phenomenon the Bank has been obliged to acquire experts, operational units and service capabilities able to support the most dynamic of these companies with their projects to go international”.
Said Ibrahimi, CEO of Casablanca Finance City (CFC) Authority, commented on the new establishment of UBI Banca Group in CFC: “We are delighted to welcome our first Italian financial institution to the CFC ecosystem. We see this move as a very positive sign, validating once again our position as a pan African financial centre dedicated to the development of business and investment activities in the region”.
UBI World, an integrated service platform designed for both companies already present abroad and those that are considering expanding internationally for the first time, has been operational since 2014. Its product range comprises both analysis and operational advisory services as well as specific banking products and it can be accessed through the branch network and 31 Foreign Centres which belong to the eight network banks of the UBI Banca Group.
UBI World supplements the UBI Group’s range of products and services which already include its presence in China (Hong Kong and Shanghai), India, Brazil and Russia thanks to its network of Representative Offices. A representative office was opened in Dubai in 2015 and a new Representative office was opened in New York in January 2016, following receipt of authorisation from the Federal Reserve and the New York State Department of Financial Services.
ABOUT UBI BANCA
UBI Banca is the third largest Italian commercial banking Group in terms of market cap with a market share above 5%, 1,560 branches mainly concentrated in the wealthiest areas of the country and over 17,500 staff. UBI Banca is a banking Group listed on the Milan Stock Exchange and included in the FTSE/MIB index.
ABOUT CASABLANCA FINANCE CITY AUTHORITY
CFCA is a public-private partnership dedicated to positioning Casablanca as an international economic and financial center and a premier gateway into African market for financial institutions, headquarters of multinational corporations and professional service firms. Casablanca Financial City Authority is empowered by law with the overall management and promotion of Casablanca Finance City. Additional information about CFC can be found at www.casablancafinancecity.com|Twitter: @casafinancecity | LinkedIn: http://www.linkedin.com/company/casablanca-finance
Copy of this press release is available on the website www.ubibanca.it
Contacts
UBI Banca
Media relations
Francesco MASCOLO, Tel. +39 027781 4213 – 4932 – 4936
Email: media.relations@ubibanca.it
or
UBI Banca
Investor relations
Tel. +39 035 3922217
Email: investor.relations@ubibanca.it
UBI BANCA
