Constantine – The General Manager of the Local Development Bank (BDL), Mr. Youssef Lallmas, announced on Wednesday evening in Constantine that the decision to open the capital of the financial institution presents a significant opportunity to foster economic development and strengthen financial stability.
Speaking at the official launch of the subscription process for acquiring shares, held at the Marriott Hotel in Constantine and attended by the Governor of the Wilaya, Abdelkhalek Sayouda, as well as representatives from civil and military authorities, BDL executives, economic operators, investors, clients, and citizens, Mr. Lallmas emphasized that the move is a “strategic step to support the national economy.” The initiative is expected to boost competitiveness by attracting investments, improving financial stability, and driving sustainable development.
Strategic Objectives of Capital Opening
Mr. Lallmas highlighted that this initiative will enhance transparency, governance, and diversify funding sources while expanding the bank’s shareholder base. These measures aim to encourage both local and international investments.
As part of this process, the Local Development Bank has made available over 44 million shares for purchase at 1,400 Algerian dinars (DZD) per share, with approximately 40% of these shares reserved for public subscription through its 1,300 commercial agencies and authorized partners.
Expected Impact on the Financial Market
The bank’s general manager underlined that listing BDL on the stock exchange will attract more local and foreign investors, increasing capital inflows into Algeria’s financial market. This will not only enhance the bank’s position locally and internationally but also provide opportunities for expansion and growth.
Earlier on Wednesday, Mr. Lallmas also launched the subscription process for shares in eastern Algeria from the city of Annaba.
The opening of BDL’s capital is poised to play a crucial role in modernizing Algeria’s banking system and expanding the nation’s financial landscape, contributing to broader economic growth.
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Author: Nor-Eleslam
