annual report 2005 - Arab Banking Corporation, ALGERIA

Reidha SLIMANE TALEB
General Manager
Letter of the General Manager
In the framework of the economic reforms undertaken in Algeria for some years , the
monetary and financial authorities in Algeria have taken appropriate measures for
implementing the necessary banking tools, to ensure security and fluidity of operations on
one hand and risk management and good governance on the other. Indeed, they launched the
electronic clearing and RTGS systems; they also reinforced control of banks and financial
institutions and budgeted significant amounts needed for the economic revival and
achievement of major investment projects during the coming five years.
In this context, Arab Banking Corporation Algeria (ABC Bank) deployed great efforts during
the previous years through the implementation of advanced tools of management, staff training
and adoption of good governance tools. It has also intensified cooperation with the managing
bodies of the bank and with its customers as well . As a result, it consolidated its growth and
ended up fiscal year 2005 with a net income of about DZD 590 Millions (Algerian Dinars)
equivalent to approximately USD 8 millions i.e. an increase of more than 50% in comparison
with the previous fiscal year net result.
Upon these grounds, I, personally, and on behalf of the board members, would like to express
my sincere gratitude to all our customers who remained faithful to the bank during all these
long years and to those who are joining us; to the staff members of the bank for the efforts
deployed and for their devotion towards ABC Bank.
I extend my thanks to the board members, internal committees for their contribution, assistance
and cooperation; to ABC BSC (HEAD OFFICE) and ABC units throughout the world for their
support and synergy which helped us to satisfy our customers by providing them with high
service quality; to all our partners for their trust and contribution to the development and
progress of our bank and to the external auditors for their assistance and vigilance.
Reidha SLIMANE TALEB
General Manager