October 4, 2016 / 2:52 PM / 10 months ago

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

1 Min Read

LONDON, Oct 4 (Reuters) - Barclays has completed the sale of its Egyptian unit to Morocco's Attijariwafa Bank , the British bank said on Tuesday, as it continues to dispose of assets not deemed core to a new strategy focused on the United States and Britain.

The sale will result in a reduction of about 2 billion pounds ($2.55 billion) 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.

$1 = 0.7843 pounds Reporting by Lawrence White; editing by David Clarke

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