Housing and Commerce Bank

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New headquarters for the Housing and Commerce Bank of Eritrea in Asmara, Eritrea.

The Housing and Commerce Bank was founded on 1994-01-01 under the name Housing Bank of Eritrea. It's original mission was to provide services to mitigate the acute housing shortage after the Eritrean War for Independence. The name was changed in 1996 when the majority shareholder, the People's Front for Democracy and Justice, decided that it should become a full-fledged bank.^[1]

Since its creating the company has helped finance various apartment complexes throughout Eritrea, most notably in Asmara and Massawa. It has also extended loans to local companies involved in the Wefri Warsay Yika'alo. ^[1]

[edit] References

1. ^ ^{a b} Rena, Ravinder (2006). Financial Institutions in Eritrea. New Africa Press. ISBN 0-9802534-8-9. 

[edit] See also

• Banking in Eritrea

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