Top List of Banks in Sudan
Banks in Sudan have experienced an impressive growth in the past few years. The number of banks in Sudan today exceeds 30 banks with different degrees of ownership and administration. Most of these banks are mainly concentrated in Khartoum, the capital, where more than two thirds of the population live. Other cities that host headquarters of some local banks are Omdurman, Port Sudan, and Kusti.
Research predicts that Sudanese economy would continue to grow over the next three years thanks to significant improvements in agricultural production and sectoral reconstruction, as well as major reforms performed by the government in the field of financial and banking services.
Here are some banks that are ensuring that the economy of Sudan continues to grow day by day.
Bank of Khartoum
Bank of Khartoum is a traditional full-service commercial bank that offers a broad range of financial products and services to individuals, small and medium-sized businesses, corporations and institutions. The Bank of Khartoum was established in 1913. Bank of Khartoum is headquartered in Khartoum.
Thebank has the reputation of being a reliable, safe and trustworthy financial institution. It is known for its ability to manage risk and its expertise in handling investment banking services including large corporate project financing. Currently it serves an entire Sudan with branches situated in different parts of the country. Its assets stand at SDG 12.07 trillion
Industrial Development Bank
Industrial Development Bank (IDB) was established in 1962. It offers banking services, such as credit, investment, and trade finance solutions; personal banking services; and mobile solutions. The company has branches in Khartoum North, North Kordofan, River Nile and White Nile states, Sudan. Industrial Development Bank is based in Khartoum, Sudan
has been a leading provider of banking services to government, corporate and individual customers in Sudan. Its current total assets stand at SDG 8.9 trillion.
Sudanese French Bank
The Sudanese French Bank is one of the largest banks in Sudan, with a wide range of banking services for both personal and business customers. The bank was established in 1972, and provides all the modern banking products and services that you would expect from a leading international bank. SFBank offers loans to support different business purposes, such as the development of new products or house renovations.
It has 26 branches across Sudan, which are spread all over the country to cater adequately for all sectors of customers, providing them with a complete range of banking and investment services. Total assets for SFB stand at SDG 61.1 trillion (USD 13.8 billion) as of 2018.
National Bank of Sudan
National Bank of Sudan has been operating in Sudan since 1990 as the exclusive agent for Citibank N.A. National Bank of Sudan was originally registered in May 1990 as the commercial arm of the Central Bank of Sudan, whose business was limited to providing banking services and acting as a regulator for other banks. The Government withdrew from the ownership and management of the Bank, which has subsequently been operating independently as a commercially-oriented bank under the name "National Bank of Sudan".
the bank offers deposit accounts, investment solutions, foreign exchange/trade related services, loans and mortgages, credit cards, and corporate advisory services. It has branches spread across Sudan with more than 5,ooo employees. its overall assets stands at SDG 505 billion (USD 1.3 billion)
Blue Nile Mashreq Bank
Blue Nile Mashreq Bank is a financial services firm with head office in Khartoum, Sudan. The company provides retail banking and wealth management for corporations and individuals. Blue Nile Mashreq Bank is a subsidiary of Arab Bank.Blue Nile Mashreq Bank is a joint venture between Mashreq PSC of the United Arab Emirates and Qatar National Bank of Qatar.
Blue Nile Mashreq Bank was established to be one of the major banks in Sudan and in Africa with main emphasis on providing banking services to medium size enterprises, agricultural production and export, transportation, and real estate development.
Its total assets are valued at SDG 336.01 million as per the 2019 report.
Al Baraka Bank
Al Baraka Bank Sudan offers a comprehensive range of banking products and services such as current accounts, Savings Accounts, Deposits, Salaf Financing, Murabaha Financing, Tawarruq Financing, Ijarah Financing (auto financing is one of its kinds), Wadia Financing, Qardhul Hasan Financing, Term Deposits, Investment Deposits and International Banking.
It has erected several branches within Sudan with more than 600 employees with its current assets summing up to SDG 96.66 trillion (USD 21.65 billion).
Al Salam Bank
Established in Sudan to meet the needs of Sudanese banking sector and based on Islamic principles, It is one of the first banks established in Sudan. Al Salam Bank became an Islamic universal bank licensed by the Central Bank of Sudan and commenced its operation in October 2009 as a public joint stock company.
It is one of the most reliable and trusted Islamic banks in Sudan, because it provides highly competitive banking services and products to its customers and clients based on the rules of Islamic share. As of 2018 its total assets were 26.33 billion Sudanese Pounds.
United Capital Bank
United Capital Bank is a third of the four privately owned banks in Sudan, founded by a group of leading businessmen and traders under the name Financial Development Center (FDC) as a finance company. The bank was established to meet this need for credit and became a national bank in 2004 with new and modern services to deliver throughout Sudan. United Capital Bank has decided not to pursue profits at the cost of customer satisfaction, full commitment is made to conduct business in an ethical manner avoiding any conflict between business decisions and national interest. The bank offers services by assisting private sector development, supporting entrepreneurship, encouraging investments, providing products and services which satisfy customers' needs and expectations. Its assets by 2018 were SDG 44 trillion (USD 10 billion)
Al Jazeera Bank
Al-Jazeera Bank aims to achieve the highest standards of banking excellence and to be the pathfinder of modern banking methods in Sudan. It started with a capital of 4 million pounds and 18 employees, so it was regarded as a small bank. The central bank granted them a license to receive all kinds of deposits and to finance the economic activities according to the interest rules and regulations that were then prevailing, with some exceptions that were later deleted.
Currently it has more than 800 employees in its payroll with total assets for up SDG 102.3 billion.
National Bank
The National Bank of Sudan (NBS) was established in accordance with the powers conferred by the National Bank Law. It is commonly considered a commercial bank in terms of structure but enjoys some of the powers and functions given to central banks. Banks may also provide financial services, such as wealth management, currency exchange, and safe deposit boxes. Currently, it has more than SDG544.73 billion (USD 1.22 billion)
FAQs
Is the National Bank a government-owned bank?
Yes, since its establishment in 1968, The National Bank has been 100% owned by the government and managed by it too.
