Al Rajhi Appoints Suliman Azzabin CEO

KUALA LUMPUR, March 15 (Bernama) -- Al Rajhi Bank has appointed Suliman AbdulAziz Azzabin chief executive officer (CEO) effective Apr 1, 2012. In a statement Thursday, Al Rajhi also announced the resignation of its current CEO and managing director, Abdullah Sulaiman Al Rajhi, due to personal business interests. The bank said Abdullah would continue to be a member of the board of directors. Meanwhile, Abdullah said the decision to resign came after thirty years of work in executive banking and a need to focus on personal matters. He said the bank had witnessed qualitative growth in capital growth, assets and net income and international expansion. "The bank's capital rose from Saudi riyal (SR) 1.5 billion in 1995 to SR15 billion last year. "Total assets grew from SR30 billion in 1995 to approximately SR221 billion last year. "The bank's profit also increased from SR1 billion in the mid-90s to SR7.4 billion in 2011," he said. -- BERNAMA