KARACHI: President and CEO of Samba Bank Limited, Shahid Sattar, after attaining his retirement age of 65 years will be leaving the bank on completion of his current term on July 31, 2022.
Sattar was appointed as President & CEO of the Bank in August 2013 at a time when it was a loss-making entity and sponsors of Samba Bank had already made three rounds of additional equity in it. After assuming the charge, he turned the Bank around from a loss making entity into a profitable enterprise. During his tenure, the Bank’s bottom-line profitability grew at a YoY CAGR of 32%.
He further transformed the Bank from a corporate banking franchise to a complete suite commercial bank offering all products and services to corporate and commercial clientele, small and medium enterprises and retail customers. Under his leadership, Bank’s loan book growth averaged at 20%, deposit at 16% and equity at 6% YoY along with paying dividends to shareholders.
The Board of Directors expressed their appreciation on record for the services rendered during the last 9 years by the departing President & CEO and would like to wish him well on his retirement after 41 years of service in the banking industry at national and international level.
The Board has further appointed Ahmad Tariq Azam as Acting President & CEO of Samba Bank Limited w.e.f. August 1, 2022, till the time a permanent President & CEO is appointed in due course.
Ahmad is a seasoned career banker with over 26 years of diversified banking experience covering Corporate, Commercial, SME, Remedial Assets Management and Retail Banking with prominent institutions like Bank Alfalah, Bank of Punjab, United Bank, NIB Bank and Samba Bank.
Ahmad joined Samba Bank in December 2013 as Head of Institutional Remedial Management (IRM) and as a member of the Executive Team. In 2014, he was also asked to lead Administration and serve as Project Manager Real Estate.
In 2015 and 2016 respectively, Ahmad was handed the task of setting up and leading Commercial and SME Banking as distinct business segments, which he successfully turned into profitable business lines in record time. In 2020, he was assigned the responsibility of Group Head CIBG and Cash Management and in March 2022, Ahmad was appointed Group Head, Wholesale Banking with a portfolio covering Commercial Banking, SME, CIBG and Cash Management.
Copyright Business Recorder, 2022