Karachi : R. Zakir Mahmood, President & CEO of Habib Bank Limited HBL will retire from his position after serving for over 12 years. HBL Board of Directors appointed Nauman K. Dar as its President & CEO who will take over in September 2012.
Mahmood’s contributions in development of Bank’s franchise in Pakistan and in international markets were recognized by Board of Directors as invaluable asset. Chairman Sultan Ali Allana applauded his leadership in evolution and repositioning of bank since 2000, which resulted in HBL becoming leading bank, in terms of its deposits, outreach to all sectors of economy.
Dar is currently Head of HBL’s International, Corporate & Investment Banking. His appointment is subject to applicable regulatory approvals, HBL press release said Tuesday.