Banque Indosuez Mer Rouge
Encyclopedia
Banque Indosuez Mer Rouge is the second largest bank
in Djibouti
and is a wholly owned subsidiary
of the French bank Crédit Agricole Indosuez.
Banque Indosuez Mer Rouge traces its presence in Djibouti to 1908 when Banque de l'Indochine
established a branch there. (Banque de l'Indochine had started issuing banknotes for Djibouti in 1907.)
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
in Djibouti
Djibouti
Djibouti , officially the Republic of Djibouti , is a country in the Horn of Africa. It is bordered by Eritrea in the north, Ethiopia in the west and south, and Somalia in the southeast. The remainder of the border is formed by the Red Sea and the Gulf of Aden at the east...
and is a wholly owned subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of the French bank Crédit Agricole Indosuez.
Banque Indosuez Mer Rouge traces its presence in Djibouti to 1908 when Banque de l'Indochine
Banque de l'Indochine
The Banque de l'Indochine was a minting and banknote-issuing bank established in Paris on January 21, 1875, for the territories of France in Asia.-History:...
established a branch there. (Banque de l'Indochine had started issuing banknotes for Djibouti in 1907.)