BBK appoints banking expert Reyadh Yousif Sater as CEO

Manama : Under the patronage of BBK Chairman Murad Ali Murad, BBK has held a dinner ceremony to honour BBK Chief Executive A Karim Bucheery on the occasion of his retirement. The Chairman also announced the appointment of Reyadh Yousif Sater as new BBK Chief Executive, effective from April 1.

The ceremony, which was held on March 16 at the Four Seasons Bahrain, was attended by Shura Council Chairman Ali Saleh Al Saleh, Bahrain Authority for Culture and Antiquities (BACA) President Shaikha Mai bint Mohammed Al Khalifa, CBB Governor Rasheed Al Maraj, Royal Charity Organisation Secretary General Mustafa Al-Sayed, BBK board members, dignitaries from Bahrain and the Gulf, and the BBK management team. 

In his opening speech, the Chairman expressed his appreciation to Bucheery and praised the bank’s results during his tenure as Chief Executive from 2008 to 2016.

 Bucheery’s role in the past 14 years since he joined BBK in 2002 has been instrumental to the bank’s success. Under his leadership as CEO, BBK was able to achieve year-on-year growth in its bottom line, recording a net profit of BD53.2 million at end of 2015, 77pc growth compared to the net profit achieved in 2007 of BD30 million.

On the appointment of Reyadh Yousif Sater as BBK Chief Executive, the Chairman said, “BBK Board places utmost importance on the succession planning and is proud to have high calibre Bahraini experts as part of its executive management team. Reyadh Sater is a long-time banking veteran. 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.”

Following the Murad’s speech, A Karim Bucheery conveyed his appreciation to the Chairman and to all the board members for the memorable ceremony.

In his speech, he recapitulated his great banking life and the 40 years dedicated to the financial sector. He also wished Reyadh Sater success on his new appointment.

Upon his appointment as the Chief Executive, Sater expressed his gratitude to the Board of Directors and said, “I would like to convey my deep appreciation to the board for the trust they placed in me. It is a great honour for me to be appointed Chief Executive of such a leading organisation. I am confident that alongside BBK’s Executive Management, and all the employees, we will continue to focus on our values and deliver our vision. We will strive to sustain and even enhance the bank’s competitive position through innovation and maintain the great relationship with our esteemed customers.”

Praising BBK’s human resources policies, Sater expressed his pride in being the fourth Bahraini Chief Executive appointed by BBK. His executive experience spans over 38 years in commercial banking, with diverse skills in many areas and a particular strength in audit being a Certified Internal Auditor.

As Deputy Chief Executive – Business Group, with direct responsibilities for Retail Banking, Corporate Banking, Treasury, Investment & Institutional Banking, Remedial & Overseas Branches, Reyadh Sater was a key contributor to maintaining the bank’s position as one of the leading commercial banks.