The Yemen Bank for Reconstruction and Development was established in Sana’a, Republic of Yemen, as a public joint-stock company on October 28, 1962, with a local capital of 10,000,000 Yemeni rials. Ownership was divided between the Government of the Republic of Yemen with 51% and the private sector with 49% of the paid-up capital.
The Yemen Bank for Reconstruction and Development is the first offspring of the revolution and the first commercial banking institution in Yemen. It is considered the pioneer of development without competition and the dean of the Yemeni banking sector. Much of today’s public and private commercial establishments, institutions, and companies were originally founded through this bank. It has always been—and continues to be—a comprehensive banking institution serving all sectors. This is reflected clearly in the bank’s logo, which symbolizes the wide range of work it has undertaken, including commercial, industrial, agricultural, and housing banking. It was also Yemen’s first ambassador and gateway to the global commercial arena through its extensive network of correspondents across many countries.
From its establishment until the early 1970s, before the Central Bank of Yemen was created, the bank carried out all duties and responsibilities of a central bank.
The bank conducts its operations from its headquarters (General Administration) in the city of Aden, along with 44 branches across the Republic of Yemen, in addition to correspondents around the world. The Yemen Bank for Reconstruction and Development provides distinguished financial and banking services through its broad national branch network. The bank has played an active role in economic development, contributing significantly to strengthening its reputation both locally and internationally.
This is, in brief, the Yemen Bank for Reconstruction and Development—although speaking about it in full would require far more space, given the vast achievements it has accomplished during its long banking history, which has reached its golden jubilee of fifty years. The bank continues to achieve success year after year, maintaining strong financial performance that has earned it the trust of all Yemenis.
