Bank of Khartoum

Stock performance

History

Bank of Khartoum traces its origins to 1913, when a branch of the National Bank of Egypt opened in Khartoum during the Anglo-Egyptian condominium. After independence it became a Sudanese national bank, and it was later partly privatized, with Gulf investors among its shareholders.

Business model

Like all banks in Sudan, whose banking system has operated under Islamic finance rules since the 1980s, Bank of Khartoum offers Sharia-compliant retail and corporate banking. Its Bankak mobile banking app became one of the most widely used payment tools in Sudan, especially after the war disrupted cash and branch access.

Market position

Bank of Khartoum is the oldest and one of the largest banks in Sudan.

Country impact

With branches closed and cash scarce in many areas since the 2023 war began, Bank of Khartoum's mobile app has become a lifeline for transfers, remittances, and payments, giving the bank an outsized role in keeping Sudan's economy functioning.