The Board of Directors (BoD) of Askari Bank Limited has appointed Zia Ijaz as President and Chief Executive Officer (CEO) for a three-year term.

The bank disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“This is to inform you that the BoD of Askari Bank Limited (AKBL) in its meeting held on Friday, January 24, 2025 has decided to appoint Zia Ijaz, as President & CEO of Askari Bank Limited for a term of three years,” read the notice.

AKBL shared the appointment is subject to clearance of Ijaz’s Fit and Proper Test (FPT) from the State Bank of Pakistan (SBP) and compliance with all applicable laws, rules and regulations in this regard.

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“The BoD has also placed on record their appreciation for the valuable contribution and the services rendered by Saleem Anwar as Acting President & CEO of the bank who will continue to hold this position till joining of Zia Ijaz,” it added.

Incorporated as a public limited company in Pakistan in 1991, AKBL, the subsidiary of Fauji Foundation, offers conventional, corporate, Islamic, consumer, and agricultural banking services through its wide network of 560 branches and sub-branches across the country.

As per the bank’s latest financial results, the bank posted a profit after tax of Rs14.02 billion in the first nine months of 2024. The Earnings Per Share (EPS) of the bank clocked in at Rs9.68.