About the bank

The Algerian Bank for Foreign Trade Ltd. (BACE) is a prosperous Swiss Bank with over 35 years experience located in Zurich. BACE has specialised for several decades in the Trade Finance business (particularly documentary credits) especially between European countries and Algeria. As a real financial gateway to Algeria, BACE constitutes an important and assured asset as correspondent bank in the international activities of companies and banks.

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Compliance information

  • AML Declaration
  • Wolfsberg Questionnaire

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Automatic Exchange of Information (AEI)

Shareholders

Key financial figures

in CHF Mio. 2018 2017 2016 2015
Operating income 21.6 15.5 21.5 18.1
Operating expenses -8.2 -7.4 -8.1 -7.9
Operating result incl. depreciations and provisions* 7.1 6.4 7.7 5.5
Cost/Income Ratio (CIR) 38% 48% 38% 44%
Net profit 4.2 4.4 4.1 4.0
Balance sheet sum 652 970 1'359 1'472
Equity Ratio 50% 33% 23% 21%
Capital Adequacy Ratio (CAR) 89.0% 67.3% 56.8% 55.2%

 

*according to the new accounting rules FINMA 2015 (FINMA Circ. 2015/01)

Reports

Algerian partner banks

Governing bodies

Board of Directors

Miloud Ferahta

Chairman

President and CEO of National Bank of Algeria (BNA), Algiers

Jean-Paul Foity

Vice-President

Independent board member
Financial consultant, Geneva
Member Audit Committee

Dr. iur. Thomas A. Frick

Independent board member
Lawyer, Zurich
President of the Audit Committee

Ahcene Haddad

Director
CEO National Investment Fund (FNI), Algiers

Asma Hovagemyan

Independent board member
Lawyer, Geneva, Switzerland

Please find the CV of the Board of Directors in the annual report.

Executive Board

Karim-Eddine Khellili

CEO

Christoph Lüthy

COO

Osvaldo Bernales

Member of Managing Board

Please find the CV of the Executive Board in the annual report.

Auditors

KPMG, Zurich

External auditors

PwC, Zurich

Internal auditors

Our correspondent banks

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SNB Swiss National Bank

Currency: CHF

Country: Zurich, Switzerland

SWIFT Code: SNBZ CH ZZ

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SECB Swiss Euro Clearing Bank GmbH

Currency: EUR

Country: Frankfurt, Germany

SWIFT Code: SECG DE FF

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JPMorgan Chase Bank National Association

Currency: USD

Country: New York, USA

SWIFT Code: CHAS US 33

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JPMorgan Chase Bank National Association

Currency: GBP

Country: London, UK

SWIFT Code: CHAS GB 2L

The Algerian Bank for Foreign Trade Ltd. (BACE) is a prosperous Swiss Bank with over 35 years experience located in Zurich. BACE has specialised for several decades in the Trade Finance business (particularly documentary credits) especially between European countries and Algeria.

© 2020 Algerian Bank for Foreign Trade Ltd.