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Qatar General Insurance Increases the Capital of Trust
Bank Algeria to DZD 20,000 Million
October 23, 2019
Qatar General Insurance & Reinsurance Co. announced that “Trust
Bank Algeria”, in which Qatar General Insurance & Reinsurance
Co. owns the equivalent of 20% of share capital, decided in
compliance with the resolution 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 as follows:
First Stage: Before the end of 2019, include DZD 5,500 million
of legal and optional reserves valued at DZD 5,620 million as of
31/12/2018 to the capital account to become DZD 18,500 million.
Second Stage: Before the end of 2020, include the equivalent of DZD
1,500 million of the expected 2019 profits to the capital
account to a total of DZD 20,000 million.
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