Crédit Populaire d'Algérie announces temporary agency closures and reports record financial results
via Algérie3602 min read
Crédit Populaire d'Algérie CPA announced the temporary closure of all its agencies nationwide starting Thursday, June 11, at 12:00 PM, due to technical requirements. Services are expected to resume on Sunday, June 14, at regular opening hours. The bank reaffirmed its commitment to improving services for its customers. Separately, CPA reported exceptional financial performance for the 2025 fiscal year, with a Net Banking Income PNB nearing 94 billion Algerian dinars DA, marking over 26% growth from the previous year. These results, validated by the Board of Directors on April 23, 2026, reflect the bank's modernization efforts and its ability to achieve record objectives, reaching 114% of its strategic plan. The net result for 2025 was 48.2 billion dinars, an increase of nearly 15% year-on-year. The bank's financial strength also improved, with permanent capital reaching 362.7 billion dinars. The Board of Directors proposed a dividend distribution of 175 dinars per share, representing a 7.61% yield as of December 31, 2025, and an increase of nearly 40% from the previous year. Based on the stock price on April 28, 2026, this yield rises to 8.37%. These historical performances are attributed to a strategy focused on digitalization, diversification of offerings, and the professionalism of its human capital. CPA aims to continue enhancing service quality and optimizing daily performance to ensure sustainable growth and strengthen confidence in the national financial market.
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Each year, hundreds of Algerian students travel abroad for quality higher education, with Russia increasingly becoming a popular destination due to its recognized academic standards, affordable tuition, and scientific opportunities. The Russian State Agrarian University - Moscow Timiryazev Agricultural Academy RSAU-MAA, founded in 1865 by Emperor Alexander II, stands out as Russia's premier agricultural science center. With over 18,500 students, including 1,200 international students from 76 countries, Timiryazev offers comprehensive programs from undergraduate to doctoral levels in agricultural and scientific fields like agronomy, veterinary sciences, biology, civil engineering, economics, and applied informatics. For non-Russian speakers, a preparatory department provides intensive Russian language courses alongside fundamental sciences. Students can opt for competitive tuition fees or scholarships, and on-campus housing is guaranteed for all international students. The university maintains over 110 cooperation agreements globally. Its 500-hectare campus in Moscow, a cultural heritage site, features experimental fields, orchards, a botanical garden, and research centers such as the Center for Selection and Seed Production of Vegetable Crops and the Edelstein Center for Horticulture. The Institute of Digital Transformation of the Agro-Industrial Complex trains experts in AI for agriculture. Choosing Timiryazev also means living in Moscow, a dynamic city celebrating its 879th
Must ReadSpanish and French police, in a coordinated operation by Europol, have dismantled a criminal network specializing in the online sale of fake residence permits. The operation culminated in Alicante with a key arrest on May 27, 2026, and the seizure of nearly 800 counterfeit documents, including identity cards, passports, and residence permits. The suspect, who had been in Alicante since 2024, operated an online platform offering fake documents in both paper and digital formats to clients across Europe. Investigators discovered a clandestine falsification workshop in his apartment, along with 1,580 euros in cash. Europol stated that the manufacturing techniques indicated "industrial-scale" production, a common method for criminal networks involved in migrant trafficking. According to Europol, this platform was crucial for migrant trafficking, enabling individuals to bypass border controls, fraudulently obtain residence permits, and facilitate illegal movement within the European Union. Europol officially announced the network's dismantling on June 4, 2026. The agency, through its new ECAMS center, focuses on advanced investigations using big data analysis and open-source intelligence to combat migrant trafficking, including financial investigations to trace illicit profits. Europol emphasizes that document falsification is a primary driver of migrant trafficking, enabling fraudulent acquisition of residence permits in the EU. Two days after the Alicante arrest, on May 29, 2026,
With the summer 2026 season, Algerian airports and ports are experiencing record traffic. Travelers to or from Algeria must adhere to strict customs procedures for declaring currency and valuables. Both residents and non-residents are required to make a customs declaration. Cash and all forms of convertible values, including banknotes, coins, traveler's checks, and negotiable instruments, must be declared if they exceed 1,000 euros or their equivalent in other currencies. This applies to both Algerian and foreign travelers. The transport of national currency is strictly regulated, with resident travelers allowed to import and export a maximum of 10,000 DA. Valuables such as personal jewelry made of gold, platinum, silver, palladium, or other precious metals and stones must also be declared if their total weight exceeds 150 grams. For travelers leaving Algeria, the maximum authorized amount of foreign currency that can be exported per calendar year is 7,500 euros in cash per person. Resident travelers must provide official bank justification, such as a debit notice or an exchange authorization from the Bank of Algeria, to prove the origin of funds. Non-resident travelers carrying more than 1,000 euros must present the official bank receipt obtained during their stay, confirming the exchange of currency at an authorized Algerian bank or exchange office. To simplify procedures, Algerian customs has modernized its system with ALCES, allowing travelers to submit their currency dec