Middle East Economic Survey

VOL. LII

No 36

7-Sep-2009

Sudan

Nile Commercial Bank Rescued Again

Nile Commercial Bank will be rescued for the second time in two years by the authorities, after a rapid climb in non-performing loans. The rescue cost, which amounts to around SP102mn ($42mn) will be split between the Central Bank of Sudan (CBS) and the government of South Sudan. The management of Nile, which is the largest private lender in the oil producing south, will be taken over by the Bank of...