Algeria’s Banque Extérieure d’Algérie Sets November Launch for French Subsidiary
After nearly a decade of anticipation, Algeria’s largest bank is poised to open its doors in France. The Banque Extérieure d’Algérie (BEA) has officially scheduled the launch of its French subsidiary for November 20, marking a significant strategic move for the North African nation’s financial sector.
The long-awaited project, first announced in 2017, finally gained critical momentum in January 2025 when BEA secured the necessary approvals from European and French banking authorities. This green light paves the way for the bank to commence full operations in mainland France, a market home to the world’s largest Algerian diaspora.
A Strategic Bridge for Investment and Trade
This expansion aligns with Algeria’s broader economic strategy to incentivize investment from its overseas community and boost non-hydrocarbon exports. The establishment of a physical banking presence in Europe is seen as a crucial step in building trust and facilitating financial flows between the two countries.
“The presence of an Algerian bank on European soil now paves the way for greater proximity, trust, and investment opportunities for our compatriots,” said Abdelouahab Yagoubi, the French MP representing Algerians in France. “This is a game-changer for entrepreneurs, professionals, and citizens alike who wish to strengthen their economic ties with Algeria.”
Three Initial Branches to Serve Key Communities
BEA’s initial footprint in France will consist of three strategically located branches, each chosen to serve significant Algerian communities.
Initial Branch Locations:
Paris (17th Arrondissement): A branch in the Courcelles area will serve the capital.
Saint-Denis: Located in the dense Paris region, this branch will cater to the northern suburbs.
Marseille (Paradis): This southern port city, home to one of France’s largest Algerian communities, will host the third branch.
The subsidiary, operating under the name BEA International Bank in France, was formally established in 2022 and is expected to expand its network with additional branches in the future.
Leadership and Operational Scope
Backed by a substantial capital of 150 million euros, the French subsidiary has been authorized to perform a full suite of banking services. This includes accepting public deposits, conducting credit operations, and providing payment services. The bank will also be empowered to take stakes in companies and manage those investments.
Mohammed Lebbou has been appointed as the General Manager of BEA France, with Rahali Lahouari serving as Chairman of the Board. The bank’s headquarters will be situated at 79 rue de Miromesnil in Paris.
For the Algerian community in France, which has long awaited a direct banking link to its country of origin, the November launch date cannot come soon enough. It represents more than just new bank branches; it signifies a strengthened economic bridge between two deeply interconnected nations.
Source: Original reporting on the launch of BEA France.