Expectations of a Deficit in Final Accounts of Banks

Sudan Events – Rehab Abdullah

Former Director General of the National Export Finance and Insurance Agency, Ahmed Babiker Hammour, has confirmed that banks are facing various difficulties due to the militia war, including the loss of looted cash, the destruction of assets, and the cessation of debt collection from customers, in addition to the cessation of new financing.
He confirmed in his speech to (Sudan Events) that all of this largely leads to financial losses for Sudanese banks without exception, and he expected that the final accounts of the banks for the year 2023 would witness a large deficit for most banks.
He expected that if this situation continued, some banks would fail to continue, and this might lead to liquidation or mmerge.
Ahmed Hammour stressed that the Banking Deposit Guarantee Fund could play a role in reducing this possibility, unless the size and number of banks that need support are so large that the Fund is unable to provide sufficient assistance.