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.


Key financial figures

in CHF Mio. 2019 2018 2017 2016
Operating income 10.9 21.6 15.5 21.5
Operating expenses -7.6 -8.2 -7.4 -8.1
Operating result incl. depreciations and provisions* 3.2 7.1 6.4 7.7
Cost/Income Ratio (CIR) 70% 38% 48% 38%
Net profit 2.6 4.2 4.4 4.1
Balance sheet sum 663 652 970 1'359
Equity Ratio 49% 50% 33% 23%
Capital Adequacy Ratio (CAR) 110.9% 89.0% 67.3% 56.8%


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

Algerian partner banks

Governing bodies

Board of Directors

Miloud Ferahta


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

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


Osvaldo Bernales

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