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September 18, 2025 | 1 week ago

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New report from the Bank of Algeria

The Algerian banking sector consolidated its financial strength and role as an economic driver in 2024, with loans to the economy reaching 11,256.5 billion dinars, a 5.3% increase over the year, according to the annual report published by the Bank of Algeria.

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The Bank of Algeria highlights stable financing dynamics, dominated by public banks (72.9% of credit growth). Outstanding loans reached DA 4,567.6 billion for the public sector (+2.4%) and DA 6,688.9 billion for the private sector (+7.3%), mainly benefiting the manufacturing and construction industries. The banking network expanded to 1,673 branches, including 102 dedicated to Islamic finance, accompanied by an increase in bank accounts (+5.62%) and foreign currency accounts (+10.42%). Funds collected increased by 8.9% to 16,246.4 billion DA, with strong growth in Islamic finance (+17% for deposits and +16% for financing). The money supply increased by 9.03%, while the dinar appreciated against the main currencies. The banking sector remains capitalized, liquid, and profitable, with net income up 12%, consolidating its role in growth and financial inclusion.

September 18, 2025 | algeria-logo

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