CPA: Net income of 7.9 billion DA in 2006
A net profit of 7.9 billion dinars (about $ 110 million) was made popular by the Credit Algeria (CPA) in 2006, according to the minutes Ordinary General Assembly of the bank published yesterday by a notarial deed and as reported by the APS.
The total balance achieved by the bank during the same year were, in turn, to 487.86 billion dinars, the source added. The profit will be affected up to 95% in dividends while the rest will be placed under legal reserves. Council's decision on the currency and credit, capital of the PCA was increased last September 4 billion dinars to 29.3 billion dinars. The bank, it should be remembered, is concerned, since 2005 by a decision to privatize the process should be completed before the end of the year. The operation, headed by the Rothschild investment bank, is currently in phase of a data room organized for pre-qualified banks. The finance minister was keen to meet, a few weeks ago, that "pre-qualified banks have expressed their satisfaction about the conditions under which the process works" and to clarify that the six banks concerned (BNP Paribas, Societe Generale, Credit Agricole, Natexis-Banque Populaire, Spain's Santander and the American City Bank) are currently working on reviewing the status of the ACC and all the data related to the opening of its capital. Started on May 21 last, these data room are operations audit to know where it will more accurately the physical assessment, the overall structure, the network or the credit policy of the ACC and the environment bank in Algeria. These audits should be followed by delivery by the banks of technical and financial bids to be submitted for consideration by an ad hoc committee. ELWATAN
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