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The Banque pour le Commerce et l’Industrie – Mer Rouge (BCIMR) a subsidiary of the French bank BRED, official celebrated the opening of its representative office in Ethiopia, on Thursday February 26.
Olivier Klein CEO of BRED, during the ceremony promised that the bank will do everything possible to assist the fast development witnessed in the Horn of Africa region, especially in Djibouti and Ethiopia.
“We opened a representative office here aiming to facilitate trade and business between Djibouti and Ethiopia. As the two countries are very much linked, we believe having a representative office here will be a good thing for the two countries. If we can also contribute to the development of trade and all the business between Ethiopia and Djibouti, we think that we can also help in developing some business between France and Ethiopia and Ethiopia and Europe,” the CEO said in an exclusive interview with Capital.
“We are here, first, to facilitate the trade with Djibouti; to facilitate the economic integration that is developing between Djibouti and Ethiopia. That is first thing. Secondly, we will work to boost bilateral relations between France and Ethiopia,” the CEO said.
BCIMR opened the first branch in Djibouti 1954 and is today the most respected bank in the Horn of Africa and has contributed greatly to the development of the Horn of Africa, explained Klein.
Olivier Klein was accompanied by Jean-Pierre Gianotti CEO of BCIMR (Djibouti) and Ali Abayazid Moussa Deputy Director General of BCIMR.
Ali Abayazid said that the Bank’s representation office opening is a solid indication of its confidence in the region. He also affirms that the bank will do whatever possible to help the bilateral relations between Djibouti and Ethiopia.
The Deputy Director General further said that the bank will help small and medium enterprises to boost their production capacity and their export performance. “We will focus on all areas of businesses, we will also help SMEs to get better access for their product,” Ali added.
Amin Abdulkadir, Minister of Culture and Tourism, State Minister of Finance and Economic Development Ahmed Shide, French Ambassador to Ethiopia Brigitte Collet, and Djibouti Ambassador to Ethiopia Mohammed Idriss Farah attended the ceremony.
Djiboutian government and BRED owns BCIMR. From its base in Djibouti, the BCIMR has played a significant part in over fifty years of economic development of the region.
BCIMR offers a diverse and complete range of services from retail banking, financing and investment banking and trade services, for all operations involving documentary credit, international guarantees and stand-by letters of credit.
Founded in 1919, BRED Bank is one of the largest regional banks in France. The bank has 330 branches in France and has a strong overseas presence through its subsidiary BCI with 74 branches located in Guadeloupe, Martinique, Saint-Barthélemy, Reunion, New Caledonia and South East Asia.