Madar (Algiers) - British bank HSBC has announced its decision to cease operations in the Algerian market after 18 years of presence, the news site TSA (Tout sur l'Algérie) reported on Saturday, 14 November 2026, citing HSBC Bank Middle East Limited.
According to the report, the decision follows "an in-depth strategic review" of HSBC's wholesale banking business in Algeria and is part of "the group's continued simplification", aimed at strengthening its leadership where it has "a clear competitive advantage" and the best growth opportunities.
The bank said its withdrawal will be gradual so as not to harm local clients and partners, and that it will meet "all its obligations towards regulators, third parties and the market as a whole until the end of the liquidation process", TSA reported.
Dialogue with clients has begun and further updates will be provided in the coming months to help them move to alternative banking providers in Algeria; no final closing date was given.
HSBC Algeria served wholesale banking clients, including public bodies and multinational companies, notably in payments and international trade, according to the site.
The parent company, HSBC Holdings plc, is headquartered in London, has assets of 3,445 billion dollars and operates in 56 countries and territories, including in the region Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates, the same source said.
