Top List of Banks in Algeria

In the last decades, the rise of banking sectors has become essential in many countries. Since the 1990s, governments have been trying to develop policies for stimulating and supporting entrepreneurial activities. Algeria is no exception. Like other governments worldwide, it has developed a number of policies, programs, and institutions intended to promote banking industries' activities in the economy. 

The banking sector plays a key role in the Algerian economy. The National Bank of Algeria is the central bank responsible for regulating monetary policy. In addition, there are 17 commercial banks, five specialized credit institutions, two finance houses, and two mortgage banks. Some have been showing positive growth for a while among the mentioned banks. Let's check them out.

Citi Bank

Citi Bank, the leading global bank, has over 150 million customer accounts and does business in more than 130 countries. Citi provides consumers, governments, corporations, and institutions with a broad range of financial products and services, including credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Citibank is a U.S. bank that offers personal and commercial banking services, including checking, savings, and wealth management accounts. The Citigroup subsidiary operates through its global network of branches in 46 countries throughout North America, Europe, Latin America, the Middle East, Africa, and Asia.

Its current assets stand at DZD 326.67 billion (USD 2.29 trillion)

ABC Bank-Algeria

ABC(Algeria) Bank is one of the leading commercial banks in Algeria. It offers a wide range of products and services to corporate, industrial, and consumer customers. The bank operates via a number of branches Providing complete banking services to both corporate and individual customers, including a full range of retail banking products.

This bank boasts several branches and employees both in Algeria and outside. It reported a total asset of DZD 42 trillion (USD 29.4 billion)

Banque Exterieure D'Algerie (Algeria)

Banque Exterieure D'Algerie is one of the largest banks in Algeria, with a network of about 1,500 branches. The bank offers full banking and financial services, including retail and investment banking, asset management, and brokerage services. 

The company provides loans to small businesses, farmers, and individuals who own or would like to buy housing. The bank was founded in 1967 as a French-Algerian government joint venture.

It has headquarters in 42 rue des Frères Bouadou, 16005 Bir Mourad Raïs and Algiers, Algeria, with several ATMs across the country to ease the customer's hustle. It reported an asset worth DZD 40 trillion (USD 27.9 billion)

Bank of Algeria

The Bank of Algeria was established in 1962. It is located on a hillside between the Casbah and the city center. The building is about 50 m high, and its architecture is intended to reflect modern and traditional styles. As the central bank of Algeria, the BOA directs domestic credit and monetary policy, administers the national currency and exchange control, manages Algeria's foreign exchange reserves, acts as a banker to the government, supervises private banks and other financial intermediaries, and acts as lender of last resort. 

Its total assets are DZD 37.10 trillion (USD 26 billion).

Societe Generale Algerie

Societe Generale Algerie is a banking service provider focused on personal and business clients. Societe Generale Algerie operates in Algeria. Societe Generale Algerie is a subsidiary of the French bank Societe Generale, one of the top banks in France and the world leader in the eurozone in terms of return on equity. Societe Generale Algerie is a subsidiary of the French banking group Societe Generale. The group provides services to large corporate, small and medium enterprises, personal customers, and private banking clients.

It has several branches within Algeria and other countries. as of 2018, it reported an asset worth DZD 456.6 billion (USD 3.2 billion)

Banque Nationale d’Algérie

Banque Nationale d’Algérie is the Algerian central bank and national bank. The bank was established in 1966. It works towards implementing the monetary policy framework, promoting price stability in Algeria, and the development and oversight of the payment system. It is located in the capital city of Algeria, Algiers. The bank is responsible for issuing the Algerian Dinar and overseeing the treasury operations.

Its current asset as of 2018 was DZD 38 trillion (USD 26.6o billion).

Banque de Développement Local

The Banque de Développement Local (BDL) is an Algerian commercial bank that operates mainly in Algeria. The BDL was ranked by the magazine Arab Banker as number one in its list of top 100 banks in the Arab world for 2011. The Banque de Développement Local offers a range of financial and investment products and services to individuals and local economic agencies. The state-owned bank was rewarded for its outstanding development work by the United Nations in Morocco.

Its branches are spread across Algeria with several employees to serve the customers in respective branches. Its total assets accumulate to up to DZD 12.7 trillion (USD 8.9 billion)

Caisse Nationale de Mutualité Agricole

Caisse Nationale de Mutualité Agricole is a credit union based in Algeria. Its primary purpose is to provide agricultural financing, including other services such as saving deposits, agricultural loans and development, and rural finance. This bank has over 1 million members and serves about 4,312 communities in Algeria.

Its main headquarters is in Jijel Area. it has an estimated asset of the amount of 42.50 trillion (USD 30 billion)

Gulf Bank Algeria

Gulf Bank of Algeria is a regional and international bank that offers commercial banking, investment banking, and other forms of banking services. The bank has several branches in Algeria. Gulf Bank Algeria is a member of Gulf Bank, a leading international banking group based in Kuwait. Gulf Bank was the first foreign bank in Algeria. 

The local subsidiary offers a full range of banking and financial services to corporate and individual customers. It has a total asset of DZD 313.92 billion(USD 2.2 billion)

Banque AlBaraka Algérie

Banque AlBaraka Algérie is a national private bank with branches in several towns and cities across Algeria, including Tlemcen, M'sila, and Biskra. The bank offers banking and financial services to individual and corporate customers, including current accounts, deposits, loans, cash management services, and trade finance.

Its total assets are 37.47 trillion (USD 26.26 billion).

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Are there any international banks in Algeria?

Yes, CitiBank was the first foreign bank to grace the land of Algeria, and it boasts of huge growth both in Algeria and the rest of the world.