BBK names new chief executive
MANAMA, March 31, 2016
Bank of Bahrain and Kuwait has appointed Reyadh Yousif Sater as its new chief executive effective from April 1.
The bank held a dinner ceremony to honour A Karim Butchery, who is retiring from the position.
Under his leadership as chief executive, BBK has made record profits despite the challenging operating environment, said a statement.
The bank was able to achieve year-on-year growth in its bottom line, recording a net profit of BD53.2 million ($139.9 million) at end of 2015, 77 per cent growth compared to the net profit achieved in 2007 of BD30 million, it said.
Murad Ali Murad, chairman, said: “BBK Board places utmost importance on the succession planning and is proud to have high calibre Bahrainis experts part of its executive management team.
“Sater is long time banking veteran. He spent 38 years in BBK where he has undertaken various responsibilities in different leadership positions, last of which being deputy chief executive - Business Group.”
“We are confident that BBK, and under his leadership, will continue on its path of success, maintaining its pioneering position in the market while expanding and diversifying its offering,” he added.
Sater’s executive experience spans over 38 years in commercial banking, with diverse skills in many areas and a particular strength in audit being a certified internal auditor. - TradeArabia News Service
