Turkish Ziraat Bank inaugurates its first branch in Algeria
A view of the Turkish Ziraat Bank building in Sarajevo, Bosnia and Herzegovina, on Mar. 15, 2024. (Adobe Stock Photo)
Ziraat Bank, Türkiye’s largest state-owned bank, has announced the opening of its first branch in Algeria, aiming to expand its investments across Africa.
Ziraat Bank General Manager Alpaslan Cakar announced the inauguration on Wednesday, emphasizing that the institution continues to expand its service network in promising regions where Turkish entrepreneurs are actively engaged. He highlighted Algeria’s importance as a key partner for Türkiye, citing over $6 billion in Turkish investments and growing bilateral trade.
“We have officially opened our branch in Algeria following the establishment of our units in the United Arab Emirates and Egypt in 2024,” Cakar stated. “We believe the products and services offered by our branch will significantly enhance economic and financial cooperation between the two countries,” he added.
Ziraat’s first branch in Algeria, second in Africa
Cakar also highlighted that Ziraat Bank’s international presence now extends across 20 countries, including regions such as Europe, the Middle East, the Balkans, the Caucasus, Africa, and Asia. He added that the bank’s extensive global experience positions it to contribute lasting value to Algeria’s banking sector.
Ziraat inaugurated its office in Egypt on July 24, marking its first branch in Africa.
Cakar noted that Ziraat Bank supports Türkiye’s foreign trade through its extensive international network, which now includes 127 service points worldwide.
Founded in 1863, Ziraat Bank is Türkiye’s largest state-owned bank with its $147 billion asset size, according to its financial report released in September 2024.
