The Board of Directors (BoD) of Samba Bank Limited (SBL) appointed Ahmad Tariq Azam as president and Chief Executive Officer (CEO) of the bank. He had already been serving as acting president and CEO since August last year.

SBL, a subsidiary of SAMBA Financial Group of Saudi Arabia. shared the development in a filing to the Pakistan Stock Exchange (PSX) on Monday.

“We are pleased to inform you that the BoD of SBL has approved the appointment of Ahmad Tariq Azam, who is currently holding the position of acting President, as fulltime President and CEO of Samba Bank Limited,” read the notice.

The bank said that the appointment is subject to the approval of the State Bank of Pakistan (SBP) and compliance with all applicable regulations.

Last year in June, the board of Samba Bank had appointed Ahmad as acting President & CEO of Samba Bank Limited with effect from August 1, 2022, upon the retirement of then chief Shahid Sattar.

The bank said Ahmad is a seasoned career banker with diversified banking experience covering corporate, commercial, SME, remedial assets management and retail banking with prominent institutions like Bank Alfalah, Bank of Punjab, United Bank and NIB Bank.

Ahmad joined Samba 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 , Ahmad was handed the task of setting up and leading commercial and SME banking as distinct business segments, which the bank said he successfully turned into profitable business lines in record time.

In 2020, Ahmad was assigned the responsibility of Group Head of Corporate & Investment Banking Group (CIBG) and cash management and in March 2022, he was appointed Group Head of wholesale banking with a portfolio covering commercial banking, SME, CIBG and cash management.