ALGIERS — The Algerian Bank of Senegal (ABS Bank) is showing a “promising” beginning and is committing to an ambitious development plan centered on implementing digital payment systems, boosting revenue and backing Algerian exporters, as highlighted by its Director General Abdelhafid Haned.
“In terms of return on investment, I can say that the first year (2024 editor’s note) has been quite satisfactory in terms of results, customer relationship development and account openings. The objective for 2025 is to launch electronic payment systems on a large scale and significantly boost revenue,” Haned told APS during the African Investment and Trade Forum (AFIC), organized on May 10-11 by the Arab-African Center for Investment and Development (CAAID).
The Director General of ABS Bank noted that the commercial and financial results achieved so far were “in line with the objectives set by the shareholders (BNA, BEA, CPA and BADR).”
This achievement has been possible thanks to the bank’s significant operational capacity, which rely, among other factors, on a substantial share capital of USD100 million.
According to the head of this bank, the aim for the current fiscal year is to “notably” improve the bank’s profitability.
