✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 10th, 2024 — The National Housing Bank (BNH) is continuing its strategic expansion across Algeria with the inauguration of a new branch in Oran. This move aims to enhance the bank’s accessibility for clients and reinforce its presence in the housing and real estate financing sector.
In a statement released on Sunday, the BNH emphasized its dedication to improving customer service and accessibility by opening more branches nationwide. “Today, June 9, 2024, we are pleased to announce the opening of our new branch in Oran,” the statement read.
The BNH, which officially began operations as Algeria’s first public banking institution specializing in housing and real estate financing on May 18, has outlined an ambitious expansion plan. New branches are planned for Béchar, Boumerdès, Sétif, Skikda, Tizi-Ouzou, Chlef, El Tarf, and Relizane, adding to its existing branches in Algiers (El Achour), Constantine, and Oran. Additionally, a branch in Biskra is in the pipeline, pending approval from the Central Bank.
With a medium-term goal of operating approximately 50 branches, the BNH is focused on progressively building a comprehensive banking network. The bank’s capital stands at 80 billion DA, underscoring its capacity to support various stakeholders in the housing sector, including private and public developers and individual homeowners.
The BNH is committed to mobilizing savings, including the “regulated housing savings” as established by the 2024 Finance Law. This initiative aims to facilitate public housing acquisition for individuals. The regulated savings program is set to launch once the related implementing regulations come into effect.
Additionally, the bank plays a pivotal role in financing the upcoming “AADL 3” program, set to launch this year. This initiative will be supported by a consortium of banks, with BNH serving as the lead bank.
Comprehensive Services
The BNH offers a range of financing options for individuals aiming to purchase homes, supported by its expanding network of branches. It also provides funding for building contractors in both the private and public sectors. Among its diverse offerings, the BNH includes banking products designed for individuals looking to purchase promotional housing, with the potential for subsidized interest rates.
Moreover, the bank plans to introduce products that allow clients to construct, expand, or renovate their homes. It is preparing to offer consumer credit products, medium-term Islamic finance products, and advanced digital banking services. Additionally, the BNH will support the acquisition of Assisted Promotional Housing (LPA) and Public Promotional Housing (LPP).
Transition from CNL
The BNH emerged from the transformation of the National Housing Fund (CNL) into a banking institution. It continues to uphold the CNL’s mission of providing assistance for public housing programs across various categories.
In line with this, the bank will maintain state-approved aid programs for rural housing, assisted promotional housing, and social housing developments. This includes financing for lease-sale types and public rental housing (formerly known as social housing).
The National Housing Bank’s strategic expansion and comprehensive service offerings are set to significantly impact Algeria’s housing sector. By bringing financial solutions closer to the people, the BNH aims to enhance the quality of life and contribute to the nation’s development.
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