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The Bank will share 95% of the profit, whereas the rest is to be put under judiciary reserves. The bank has raised in September its capital up to 29.3 b under a decision from monetary and credit council. On another side, Ministry of Finance has recently confirmed that the process of privatizing the bank, which has begun in 2005, is to be proceeded again. In this context, the government has decided a partial privatization giving up 51% shares to a unique partner, and keeping 49% shares. CPA is a subject of checking account operations by the six eligible banks in the process of the bank privatization. The checking operation is to be followed by presenting technical and commercial offers by the concerned banks which would be studied by a special committee, the result of which is to be known before 2007 ends. The six interested banks are: BNP Paribas, Crédit Agricole, Natexis Bank, the French Société Générale, the US City Bank and the Spanish Santander. | ||||||||||||||||||
Algerian People’s Credit (CPA) gets 7.9 billion dinars profit