The banking sector plays an important function in every nation’s economy. The National Bank of Algeria is responsible for the regulations of monetary policies. In the country, there are 17 commercial banks, five specialized credit institutions, two finance houses, and mortgage banks. All of which provide investment management, lending, banking, and commercial services to their customers.
Eight Top Banks
The following are eight top banks that operate within the territory.
Citi Bank
Known as a leading global bank, it has more than 150 million customers and an international presence in over 130 countries. It offers consumers, governments, corporations, and institutions a variety of financial products and services such as corporate, credit, and investment banking, wealth management, and transaction services, amongst others. Although a U.S. bank, it provides personal and commercial banking services, such as checking, savings, and wealth management accounts. The Citigroup subsidiary has a global network of branches in 46 countries across the globe. It has assets of USD 2.29 trillion.
ABC Bank-Algeria
As one of the leading commercial banks available, it provides various products and services to business owners, industries, and individual customers. It has several branches offering banking services to corporate and individual customers. With several branches and employees across the globe, its total asset is said to be around DZD 42 trillion.
Banque Exterieure D’Algerie
This is one of the largest banks here, with a network of around 1,500 branches. It renders complete banking and financial services, such as retail and investment banking, asset management, and brokerage services. It also gives out loans to small business owners, farmers, and persons who wish to buy a house. Established in 1967 as a French-Algerian government joint venture, its headquarters is in 42 rue des Frères Bouadou, 16005 Bir Mourad Raïs and Algiers, Algeria, with several of its ATMs scattered across the country. Its asset is said to be worth about DZD 40 trillion.
Bank of Algeria
Founded in 1962, this bank is located between the Casbah and the city center. Also known as the central bank of Algeria, it is responsible for domestic credit and monetary policy, administering the national currency and exchange control, managing foreign exchange reserves, and acting as a banker to the government. The BOA help supervise private banks and other financial institutions. Its total assets are said to be worth DZD 37.10 trillion.
Societe Generale Algerie
A banking service provider operating here as a subsidiary of the French bank Societe Generale, a top bank in France. The bank renders services to individuals, corporate bodies, small and medium enterprises, private clients, etc. With numerous local and international branches, it is reported to have an asset worth DZD 456.6 billion.
Banque Nationale d’Algérie
Famous for being the Algerian central and national bank, it was founded in 1966. The bank is focused on the implementation of a monetary policy framework, promoting price stability, and the development and oversight of the payment system. Based in Algiers, the capital city, it is responsible for the issuance of the Algerian Dinar and overseeing the treasury operations. It has an asset worth over DZD 38 trillion.
Gulf Bank Algeria
This is a regional and international bank offering commercial, and investment banking services, amongst others. It has lots of branches here. Being a member of Gulf Bank, an international banking group located in Kuwait, it was the first foreign bank. It renders various banking and financial services to different kinds of customers. The total asset of the bank is over DZD 313.92 billion.
Banque AlBaraka Algérie
This is a national private bank with several branches scattered across cities, including Tlemcen, M’sila, and Biskra. It provides banking and financial services to private and corporate customers, such as current accounts, trade finance, loans, cash management services, etc. The total assets are about USD 26.26 billion.
