An announcement from the board of directors of Bank Alfalah declared the resignation of Atif Bajwa as the president and CEO of the bank and confirmed appointment of Nauman Ansari, former CEO of Faysal Bank as president and Bank Alfalah CEO.
An internal communication informed that the reason behind Bajwa’s resignation, a president and CEO for over five years, has been personal.
Bank Alfalah released a statement saying that the bank was on consistent upward ratings in the tenure of Bajwa. The bank expanded its network and operations and transformed in his tenure.
The bank’s market value and profitability increased and made significant improvements in its balance sheet and performance ratios. The bank is considered to be healthy and stable financially.
Ansari, subject to legal and regulatory approvals, has served various banks during his 24-year professional career which included leading institutions like Standard Chartered Bank, Bank of America, ABN Amro, Fortis Bank and Samba Bank. He is a business graduate from Miami University, USA.
Board Chairman Sheikh Nahayan Mabarak Al Nahayan said that Ansari would provide strong and effective leadership to meet the bank’s strategic objectives and build the franchise further.
He also said that they are confident that the banking sector of Pakistan will continue to show flexibility while making positive contributions towards Pakistan’s economy and Bank Alfalah will remain the most reliable and digitally advanced bank of choice for its customers.
