(MENAFN - Arab Times) The Board of Directors of National Bank of Kuwait (NBK) Group has appointed Isam Jasem Al Sager as NBK Group Chief Executive Officer, succeeding Ibrahim Shukri Dabdoub who will retire effectively following the Bank's General Assembly Meeting. The Board of Directors has also appointed Shaikha Khaled Al Bahar as the Deputy Group CEO. Al Sager is currently NBK's Deputy Group CEO, a position he held since 2010. He also held the position of NBK Kuwait CEO between 2008 and 2010 after being appointed as NBK Kuwait Deputy CEO in 1998.
Prior to that, Al Sager held a range of managerial positions as the General Manager of Retail and Wholesale Banking Group since 1992 and Head of Domestic Credit and Marketing in 1987. Shaikha Al Bahar is currently NBK Kuwait CEO, she was appointed to that position in 2010. Prior to that, she was NBK Kuwait Deputy CEO between 2008 and 2010 and held several managerial positions including the General Manager of Corporate Banking Group since 2003.
NBK Group CEO Ibrahim Dabdoub has decided to retire following the Bank's next General Assembly Meeting. Dabdoub's successful career at NBK extends for over 53 years, of which 30 years at its helm. Dabdoub has successfully d the bank to becoming one of the leading financial institutions in the Middle East with operations in 16 countries and total assets of USD 66 billion, while maintaining its ranking among the world's safest banks with the highest credit ratings in the Middle East. Dabdoub will continue to serve the bank as an advisor to the Board of Directors. NBK's Board of Directors stressed that NBK will continue with its current strategy strengthening its leading position both locally and regionally, building on its strong reputation and long track record of solid performance and remarkable achievements.
The Board of Directors said that the appointment of Isam Al Sager and Shaikha Al Bahar is testimony to the stability of NBK's management team and reflects the bank's successful succession planning. The Board of Directors has confirmed its complete confidence in Al Sager and Al Bahar and extended its full support for them to achieve the bank's future ambitions and create value for its shareholders
The Board of Directors also extended its sincere appreciation to Dabdoub for his contribution to NBK's success during his 30 years term as the Group CEO transforming the bank into a well-established regional institution