Algerian public bank withdraws from Aresbank capital in Spain

This transaction, recorded at the end of July, concludes Algeria's presence in the Spanish bank's capital, making the Libyan Foreign Bank its sole shareholder. Aresbank, founded in 1975, focuses on financing international trade, particularly between Spain and Arab countries. The bank reported a profit of 16 million euros in 2025, a 21% increase year-on-year.

The CPA's withdrawal follows a period of improved relations between Algiers and Madrid, and comes shortly after Pedro Sánchez's visit to Algiers. Trade between Algeria and Spain, heavily reliant on hydrocarbons, continues to be active, with Spanish imports from Algeria reaching approximately 6 billion euros. Algerian financial institutions regained the ability to process foreign trade operations with Spanish companies in November 2024.

The Libyan Foreign Bank, now the sole owner of Aresbank, already holds stakes in other financial institutions abroad, including in the United Kingdom, Italy, Mauritania, and Uganda.