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.

Shareholders

Key financial figures

in CHF Mio. 2017 2016 2015 2014
Operating income 15.5 21.5 18.1 18.0
Operating expenses -7.4 -8.1 -7.9 -9.8
Operating result incl. depreciations and provisions* 6.4 7.7 5.5 5.0
Cost/Income Ratio (CIR) 48% 38% 44% 54%
Net profit 4.4 4.1 4.0 3.6
Balance sheet sum 970 1'359 1'472 1'252
Equity Ratio 33% 23% 21% 25%
Capital Adequacy Ratio (CAR) 67.3% 56.8% 55.2% 63.6%

 

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

Algerian partner banks

Governing bodies

Board of Directors

Achour Abboud

Chairman

President and 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

Ahcene Haddad

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