President & CEO of Samba Bank retiring on July 31
KARACHI PR – President & 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 & 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 alongwith 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. 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.