About the bank

The Algerian Bank for Foreign Trade Ltd. (BACE) is a prosperous Swiss Bank with 40 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.


Key financial figures

in CHF Mio. 2020 2019 2018 2017
Operating income 7.5 10.9 21.6 15.5
Operating expenses -7.2 -7.6 -8.2 -7.4
Operating result incl. depreciations and provisions* 0.1 3.2 7.1 6.4
Cost/Income Ratio (CIR) 96% 70% 38% 48%
Net profit 1.2 2.6 4.2 4.4
Balance sheet sum 648 663 652 970
Equity Ratio 51% 49% 50% 33%
Capital Adequacy Ratio (CAR) n/a 110.9% 89.0% 67.3%
Simplified Leverage Ratio 44.3% 34.7% n/a n/a


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

Algerian partner banks

Governing bodies

Board of Directors

Mohammed Lamine Lebbou


CEO of National Bank of Algeria (BNA), Algiers

Jean-Paul Foity


Independent board member
Financial consultant, Geneva
Member Audit Committee

Dr. iur. Thomas A. Frick

Independent board member
Lawyer, Zurich
President of the Audit Committee

Kamel Mansouri

Board member
CEO of National Investment Fund (FNI), Algiers

Alex Henzi

Independent board member
Swiss Certified Auditor, Zurich

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

Executive Board

Karim-Eddine Khellili


Christoph Lüthy


Abdallah Sellam

Member of Managing Board

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


KPMG, Zurich

External auditors

PwC, Zurich

Internal auditors

Our correspondent banks