Increase the Capital of Trust Bank Algeria24 October 2019
Qatar General Insurance & Reinsurance Co. Q.P.S.C announces that “Trust Bank Algeria”, in which Qatar General Insurance & Reinsurance Co. Q.P.S.C owns the equivalent of 20% of share capital, decided and in compliance with the decision of the Central Bank of Algeria with respect to the minimum required capital for banks operating in Algeria, to increase the capital of Trust Bank of Algeria as follows:
First Stage: Before the end of 2019, include 5,500 Million DZD of legal and optional reserves valued at 5,620 Million DZD as of 31/12/2018 to the capital account to become 18,500 Million DZD.
Second Stage: Before the end of 2020, include the equivalent of 1,500 Million DZD. of the expected 2019 profits to the capital account to become 20,000 Million DZD.