This transaction is part of Atlantic Group's strategy to develop a leading pan-African banking group offering a wide range of sophisticated, high value-added financial services, including international banking, cash management, brokerage and custody services. , wealth management services as well as trade finance, and foreign exchange solutions.

This transaction will enable AfrAsia Bank Ltd to consolidate its development by strengthening its banking activities in Africa and expanding its range of financial services to trade finance.

During the signing ceremony held today, Wednesday December 28, 2022, AFG Holding, the National Bank of Canada and the IBL Group unanimously welcomed a historic agreement that will give a new dimension to the bank.

"We are particularly proud of this operation, which will allow a better anchoring of the development begun by AFG Holding in the Indian Ocean and the development of a range of financial services with high added value for the benefit of both economic operators and banks in Africa. We will capitalize on more than 40 years of expertise of Atlantic Group in the African banking sector, to accelerate the development of AfrAsia Bank Ltd. said Mr. Kone DOSSONGUI, Founder and Chairman of the Board of Directors of Atlantic Group.

“We are pleased to enter into this agreement with AFG Holding, a major banking player in sub-Saharan Africa. We are confident about the bank's development prospects given the quality of the buyer and our group will continue to maintain privileged commercial relations with the bank internationally and in Mauritius, where the IBL Group is a leading economic player. . » declared Mr. Arnauld LAGESSE, Managing Director of the IBL Group.

On the National Bank of Canada side, Mr. Ghislain PARENT, Senior Vice-President, International declared: "Our institution is delighted with this transaction after 8 years of presence alongside AfrAsia Bank Ltd, a bank with talented employees , a high capital and which has achieved solid financial performance becoming a major bank in Mauritius. We are convinced that AFG Holding will successfully continue the growth of AfrAsia Bank. ".

The FINACTU Group is Atlantic Group's exclusive financial advisor on this operation. BDO Mauritius is the financial audit firm. Wilkie Farr & Gallagher (France) and Dentons (Mauritius) are Atlantic Group's law firms on the transaction. Rothschild & Co, is the exclusive financial advisor to the sellers.

About AfrAsia Bank Ltd

Based in the heart of the Mauritius International Financial Center with a representative office in South Africa, AfrAsia Bank Limited specializes in providing banking services linking Africa to Asia and the rest of the world with 5 business lines:

• Global banking,

• consumer banking,

• international wealth management; • corporate banking;

• the Treasury & markets.

As of June 30, 2022, AfrAsia Bank has a total balance sheet of USD 4.6 billion and deposits of USD 4.4 billion.