- Nile Commercial Bank
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Nile Commercial Bank Type Private Industry Financial Services Founded 2003 Headquarters Juba, South Sudan Key people Leonard Logo Malawat, Chairman
Aggrey Idri, Managing Director[1]Products Loans, Checking, Savings, Investments, Website no Homepage Nile Commercial Bank (NCB) 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.[2]
Contents
Overview
Nile Commercial Bank is an indigenous South Sudanese 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.
History
The bank was started in 2003 by South Sudanese 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).[3] The bank was temporarily closed in 2009 while the bad loans were being recovered.[4] 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.[5]
Ownership
The bank is privately owned by over 1,700 shareholders. The shareholding details are not publicly known as of October 2010.
Branch Network
As of November 2011[update], Nile Commercial Bank maintains branches at the following locations, among others:[6]
- Main Branch - Juba
- Malakal Branch - Malakal
- Renk Branch - Renk
- Rumbek Branch - Rumbek[7]
- Torit Branch - Torit
- Aweil Branch - Aweil
- Bentiu Branch - Bentiu[8]
External links
See also
- List of banks in South Sudan
- Bank of South Sudan
- Economy of South Sudan
References
- ^ The Key People In NCB
- ^ List of commercial Banks Licensed In Southern Sudan
- ^ Nile Commercial Bank Runs Out of Cash
- ^ Nile Commercial Bank Temporarily Closed
- ^ Nile Commercial Bank Rceives Rescue Package
- ^ Branch Network of Nile Commercial Bank
- ^ NCB Maintains Branch In Rumbek
- ^ Nile Commercial Bank Reopens
Categories:- Banks of South Sudan
- Companies established in 2003
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