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Historical BackgroundFarmers 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. VisionFarmers Commercial Bank endeavors to provide comprehensive banking services that cover all economic sectors with special emphasis on rural development , and its performance is characterized by excellence and effectiveness in serving the community and enhancement of its shareholders equity . Goals and MissionFCB 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:
Capital & InvestorsAuthorized Capital : 400,000,000 Sudanese pounds Paid up Capital 69,789,920 Sudanese pounds Number of Shareholders 69,789,920 Major Investors
FinanceFCB 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 2009 has reached 529,270 SDG, distributed as follows :
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. |