LOC22:13
19:13 GMT
ALGIERS, May 27 (KUNA) -- The Council of Money and Credit (CMC) Sunday gave
the authorization to the British Bank (HSBC) to operate in Algeria, bringing
to 13 the number of foreign banks operating in the country.
This bank's capital, amounted at in the beginning at AD 2.5 billion (USD 35.
46 million), will be brought to AD 3.67 billion (USD 45.55 million) in this
third year of its active presence in the Algerian market, the CMC stressed.
HSBC Bank (Hong Kong and Shangai Banking), a leading bank in Great Britain,
is also a leading bank in all Europe with market capitalization set at Euro 60
billion far ahead the Italian and Italian banks. (end)
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