BBK names new chief executive

31/03/2016 07:46 AST

BBK, Bahrain’s fourth largest bank by assets, has announced the appointment of Reyadh Yousif Sater as its new chief executive with effect from tomorrow. Mr Sater takes over the role from Abdulkarim Bucheery who has retired.

The announcement was made following a farewell ceremony for Mr Bucheery held at the Four Seasons Hotel Bahrain Bay.

The event was presided over by BBK chairman Murad Ali Murad and participants included Shura Council chairman Ali Saleh Al Saleh, Bahrain Authority for Culture and Antiquities president Shaikha Mai bint Mohammed Al Khalifa and Central Bank of Bahrain Governor Rasheed Al Maraj.

Mr Murad said during Mr Bucheery’s tenure starting in 2008, the bank has made record profits despite the challenging operating environment.

“The bank was able to achieve year-on-year growth in its bottom line, recording a net profit of BD53.2 million at the end of last year, 77 per cent higher when compared with BD30m net profit achieved in 2007,” he said.

The chairman said Mr Sater’s appointment was part of the bank’s strategy to have high calibre Bahrainis as part of its executive management team.

“He has spent 38 years in BBK where he has undertaken various responsibilities in different leadership positions, last of which was deputy chief executive of business group,” said Mr Murad.

“We are confident that BBK, under his leadership, will continue on its path of success, maintaining its pioneering position in the market while expanding and diversifying its offering.”

Mr Sater holds an MBA from the University of Glamorgan UK, obtained in 2001. He has attended many specialised banking and management training programmes such as the Darden Executive Management Programme in Virginia.

He has been an active member of various management committees in the bank including Assets and Liability, Senior Human Resources, Risk Management, Country Risk and Management Credit.

Gulf Daily News