Nile Commercial Bank
Encyclopedia
Nile Commercial Bank is a commercial bank
in South Sudan
. It is one of the commercial banks licensed to operate in South Sudan
, by the Bank of South Sudan, the national banking regulator.
ese commercial bank. Of all the commercial banks licensed in South Sudan, it has the largest number of branches, given as "over 20", at the company's web site. The bank is affiliated with Stanbic Bank
, a division of Standard Bank of South Africa
.
ese individuals. The number of investors in the bank grew to exceed 1,700 individuals and the banks branch network grew to over twenty (20). In April 2009, it was reported that the bank had ran out of cash, as a result of non-performing loans made to officials in the Government of South Sudan (GOSS). The bank was temporarily closed in 2009 while the bad loans were being recovered. In September 2009, Nile Commercial Bank received a capital injection of 102 million Sudanese Pounds (approximately US$44 million) by the Government of South Sudan and by the Bank of South Sudan.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in South Sudan
South Sudan
South Sudan , officially the Republic of South Sudan, is a landlocked country located in the Sahel region of northeastern Africa. It is also part of the North Africa UN sub-region. Its current capital is Juba, which is also its largest city; the capital city is planned to be moved to the more...
. It is one of the commercial banks licensed to operate in South Sudan
South Sudan
South Sudan , officially the Republic of South Sudan, is a landlocked country located in the Sahel region of northeastern Africa. It is also part of the North Africa UN sub-region. Its current capital is Juba, which is also its largest city; the capital city is planned to be moved to the more...
, by the Bank of South Sudan, the national banking regulator.
Overview
Nile Commercial Bank is an indigenous South SudanSouth Sudan
South Sudan , officially the Republic of South Sudan, is a landlocked country located in the Sahel region of northeastern Africa. It is also part of the North Africa UN sub-region. Its current capital is Juba, which is also its largest city; the capital city is planned to be moved to the more...
ese commercial bank. Of all the commercial banks licensed in South Sudan, it has the largest number of branches, given as "over 20", at the company's web site. The bank is affiliated with Stanbic Bank
Stanbic Bank
Stanbic Bank is a division of Standard Bank, a member of the Standard Bank Group, based in Johannesburg, South Africa.-Overview:Standard Bank trades under the name Stanbic Bank in Botswana, the Democratic Republic of the Congo, Ghana, Kenya, Malawi, Nigeria, Tanzania, Uganda, Zambia and...
, a division of Standard Bank of South Africa
Standard Bank of South Africa
The Standard Bank of South Africa Limited is one of South Africa's largest financial services groups. It operates in 30 countries around the world, including 17 in Africa.-History:...
.
History
The bank was started in 2003 by South SudanSouth Sudan
South Sudan , officially the Republic of South Sudan, is a landlocked country located in the Sahel region of northeastern Africa. It is also part of the North Africa UN sub-region. Its current capital is Juba, which is also its largest city; the capital city is planned to be moved to the more...
ese individuals. The number of investors in the bank grew to exceed 1,700 individuals and the banks branch network grew to over twenty (20). In April 2009, it was reported that the bank had ran out of cash, as a result of non-performing loans made to officials in the Government of South Sudan (GOSS). The bank was temporarily closed in 2009 while the bad loans were being recovered. In September 2009, Nile Commercial Bank received a capital injection of 102 million Sudanese Pounds (approximately US$44 million) by the Government of South Sudan and by the Bank of South Sudan.
Ownership
The bank is privately owned by over 1,700 shareholders. The shareholding details are not publicly known as of October 2010.Branch Network
, Nile Commercial Bank maintains branches at the following locations, among others:- Main Branch - Juba
- Malakal Branch - MalakalMalakal-Location:The city of Malakal is located in Malakal County, Upper Nile State, in the northeast of South Sudan, close to the International borders with the Republic of Sudan and with Ethiopia...
- Renk Branch - Renk
- Rumbek Branch - RumbekRumbekRumbek is a town in South Sudan.-Location:The town of Rumbek is located in Rumbek Central County, Lakes State in central South Sudan. This location lies approximately , by road, northwest of Juba, the capital and largest city in that country. Rumbek sits at an elevation of above sea level...
- Torit Branch - ToritTorit-Location:The town is located in Torit County, Eastern Equatoria State, in the southeastern part of South Sudan, close to the International border with the Republic of Uganda. Its location lies approximately , by road, east of Juba, the capital and largest city in that country...
- Aweil Branch - Aweil
- Bentiu Branch - BentiuBentiu-Location:Bentiu is located in Rubkona County, Unity State, in northern South Sudan, near the International border with the Republic of Sudan. This location lies approximately , by road, northwest of Juba, the capital and largest city in the country. Bentiu sits on the southern banks of the Bahr...
External links
See also
- List of banks in South Sudan
- Bank of South Sudan
- Economy of South SudanEconomy of South SudanThe economy of South Sudan is one of the world's weakest and most underdeveloped with South Sudan having little existing infrastructure and the highest maternal mortality and female illiteracy rates in the world as of 2011. Until 1992, the Sudanese Pound has replaced the dinar as Sudan's currency...