Bank of Khartoum

Bank of Khartoum (BOK), with 17 branches in the capital and 33 branches nationwide, is the largest Bank in Sudan. It is also the bank with the oldest continuous history in the country.

History

1913 The Anglo-Egyptian Bank established a branch in Khartoum. In 1925, Barclays Bank merged Anglo-Egyptian with two other banks to form Barclays (Dominion, Colonial & Overseas).
1948 The Ottoman Bank established a branch in Khartoum. In 1969, Grindlays Bank acquired the Ottoman Bank.
1970 Sudan nationalized its banking system. Barclays became the State Bank of Foreign Trade; Grindlays Bank became Omdurman National Bank. The former branches of Commercial Bank of Ethiopia became Juba Bank.
1984 Omdurman Bank merged with the Juba Commercial Bank to form Unity Bank.
1993 The government grouped the Unity Bank, the National Export Import Bank, and Bank of Khartoum into the Khartoum Bank Group.
2002 The government prepared Bank of Khartoum for privatization, selling a 60 per cent share to Dubai Islamic Bank in 2005.
[[2006}} Islamic Development Bank, Dubai Islamic Bank, Sharjah Islamic Bank and Abu Dhabi Islamic Bank found Emirates and Sudan Bank in Khartoum as a fully Islamic bank.
2007 Bank of Khartoum announced a forthcoming merger with a smaller rival, Emirates and Sudan Bank. Dubai Islamic's ownership will drop to 28 percent of the merged bank. The Sudanese government will own 10 percent of the bank, while Abu Dhabi Islamic Bank and Sharjah Islamic Bank would also own stakes. Bank of Khartoum also plans to raise 1.1 billion dirhams (US$299.6 million) in a private placement to fund the expansion.