The Secretary General of the Aden Local Council Inaugurated CAC Bank’s Branch in Boraiqa

2/3/2013 12:00:00 AM

Earlier this month the secretary general of Aden local council Mr. Abdulkareem Shaif inaugurated the branch of Cooperative and Agricultural Credit Bank (CAC Bank) in Boraiqa as part of the economic activity witnessed at Aden governorate.

The Secretary General, together with Mr. Monasser Al-Quaiti - CAC Bank Chairman Board of Directors and a number of businessmen toured inside the branch departments and listened to the management of the branch to what banking services the branch of Boraiqa will offer to clients. The Secretary General expressed the importance role of this branch to accommodate the banking services needs for the public and private sectors, hoping that the vary services will in ways serve the national economy and lead to the establishment of a large financial market within the framework of major investments in the city of Aden.

Furthermore the Chairman of CAC Bank said that opening this branch came to meet the needs of the Boraiqa city, pointed out that CAC Bank is working on the diversification of its banking services and spread in all governorates of Yemen with 85 branches and offices, as well as our banking services reached new areas with high expansion approach locally and internationally, noting that the total assets of the bank as at 31 December of last year reached to YER 332 billion while total deposits amounted to YER 283 riyals and investments amounted to YER 207 billion.

The opening ceremony was attended by Mr. Ibrahim Al-Houthi, Deputy CEO for Retail Banking, Mr. Khalid Wahbi Aqaba - Director General of Boraiqa, Mr. Mofeed Al-Shami – Manager of Sheikh Othman branch and a number of banks’ representatives and businessmen in Aden.