Crédit Agricole withdraws from Algeria
The lack of profitability and vitality in the local financial market is pushing the management team of the French bank to liquidate its subsidiary and to lay off about 20 employees.
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▪ Crédit Agricole withdraws from Algeria
▪ The lack of profitability and vitality in the local financial market is pushing the management team of the French bank to liquidate its subsidiary and to lay off about 20 employees.
Since its establishment, Crédit Agricole SA decided to limit the positioning of its subsidiary Crédit Agricole CIB Algeria to the investment and corporate banking segment, avoiding the highly regulated retail banking sector, which required heavy investments in the roll-out of the branch network.
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