Karachi: The Board of Directors at Samba Bank Limited has announced the appointment of Rashid Jahangir as the Acting President and Chief Executive Officer, effective May 22, 2025. Mr. Jahangir, who previously served as the Deputy Chief Executive Officer at the bank, will assume his new role until a permanent President and CEO is appointed.

The decision was finalized during a board meeting, with the members unanimously approving Mr. Jahangir's appointment. According to information available from the Pakistan Stock Exchange (PSX), this move comes as part of a strategic plan to ensure continuity in leadership and maintain the bank's operational stability.

As the Acting President and CEO, Mr. Jahangir is expected to oversee the bank's strategic initiatives and day-to-day operations. The appointment is crucial for Samba Bank Limited as it navigates the evolving banking landscape and seeks to consolidate its market position.

The bank's stakeholders, including TRE Certificate holders, have been informed of this development. The market is categorized under the financial sector, and Samba Bank Limited is a key player in this domain. The announcement is seen as a positive step towards sustaining the bank’s growth trajectory while the search for a permanent leader continues.