VOL. XLIII

No. 15

10-April-2000

ALGERIA

Societe Generale Sets Up Retail Banking Subsidiary In Algeria

Societe Generale Banking Group announced on 3 April that it had opened up a subsidiary in Algiers Societe Generale Algerie. According to a statement released by the bank, Societe Generale holds 61% of the capital, the International Finance Corporation 10% and FIBA, a holding company majority-owned by European, Algerian and US investors, the remaining 29%.

The subsidiary will focus initially on...