Samba Bank Appoints Acting President and CEO

The Board of Directors at Samba Bank Limited (SBL) has officially endorsed Rashid Jahangir for the role of acting president and Chief Executive Officer (CEO).

The appointment, set to take effect on May 22, 2025, will remain in place “until a permanent president & CEO is appointed in due course,” according to the bank’s notification to the Pakistan Stock Exchange (PSX).

Previously, Jahangir held the position of Deputy CEO within Samba Bank.

Financial Performance

Samba’s recent financial disclosures indicate a 53% decrease in profit-after-tax (PAT) for the quarter concluding on March 31, 2025, when compared to the earnings reported during the corresponding period last year.

Specifically, SBL’s PAT amounted to Rs166.85 million for the period of January-March 2025, a contrast to the Rs358.68 million recorded during January-March 2024.

The bank’s total income also experienced a decline, falling by 10% to Rs1.94 billion in Jan-March 2025, from Rs2.18 billion during the equivalent timeframe in the prior year.