Our presence in Algeria is a clear demonstration of the Algerian government's determination to attract foreign investment and to direct the national economy increasingly towards foreign markets. We have had a significant involvement in Algeria for many years in areas such as correspondent banking, trade finance and corporate finance. As a reflection of the importance of this relationship, a representative office was established in Algiers in 1991, and in 1997 we were the first foreign institution to apply for and obtain a commercial banking license. Our full-fledged branch opened for business in 1998.