Farmers Commercial Bank

Historical Background

Farmers Commercial Bank (FCB) was established in 1/8/1999 as a result of the merger between two large banks in Sudan: The Farmers Bank for Investment and Rural Development which was established in 1992 to help with development of the agricultural and related sectors, and the Sudanese Commercial Bank which was the first national bank to be established in Sudan (in 1960). The merger took place as a result of the privatization scheme adopted by the government which resulted in the biggest banking institutions in terms of the number of shareholders as it contains the largest shareholders base in Sudan.

Goals and Mission

FCB is a financial institution founded to play a vital role in economic development in Sudan. This role is manifested in the bank's strategy, policy and goals which can be summarized in the following:

Finance the agricultural, industrial, commercial as well as export sectors.

Facilitate the availability of production input for agricultural sector (including livestock)

Adopt integrated rural development projects that help with the development of rural areas in Sudan.

Provide healthy investment opportunities for farmers

Provide excellent and comprehensive banking services

Work in foreign exchange

Capital & Investors

Approved Capital 5,000,000,000 Sudanese Dinars
Paid Capital 3,000,954,700 Sudanese Dinars
Number of Shareholders 30,371

Major Investors

National Pension Fund

Aljazeera Enterprise Farmers' Union

Sudan Cottons' Company

Alrahad Enterprise Farmers' Union

Ministry of Finance, Sudan

Cultivation Equipment Company

Alrahad Agricultural Organization

Aljazeera and Almanagil Farmers' Union

Hagar Cigarette and Tobacco Factories, LTD

Aljazeera Enterprise Administration

Finance

FCB finances its customers’ projects in accordance with Islamic formula under the supervision of specialized technical committees that determines the acceptable forms of transactions and audit the contracts and regulations that govern them. The bank contributes effectively in the economic development of the country by financing the most productive sectors of society.

The total financing of the year 2004 has reached 21.55 billion Sudanese Dinars, distributed as follows :

Agricultural Sector 36%

Industrial Sector 5%

Export Sector 3%

Local Trade Sector 16%

Transportation and Storage Sector 8%

Rural Development Sector 4%

Other projects 28%

The bank also meets the needs of large-scale agricultural projects such as Al-Jazeera Enterprise, Al-Rahad Enterprise, New Halfa Enterprise, Al-Souky Enterprise, as well as in agricultural inputs and equipements.