KARACHI: Askari Bank Limited has appointed Zia Ijaz as its president and chief executive officer for a three-year term, the bank disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday.

The appointment is subject to clearance of Ijaz’s fit and proper test (FPT) by the State Bank of Pakistan (SBP) and adherence to all regulatory requirements, the bank said.

“The Board of Directors (BoD) of Askari Bank Limited (AKBL) in its meeting held on Friday, January 24, 2025, has decided to appoint Zia Ijaz as President & CEO for a term of three years,” the notice read.

Ijaz will succeed Saleem Anwar, who has been serving as acting president and CEO. The BoD acknowledged Anwar’s contributions and confirmed he would remain in the role until Ijaz assumes office.

Askari Bank, a subsidiary of Fauji Foundation, operates a network of 560 branches across Pakistan, providing conventional, Islamic, corporate, consumer and agricultural banking services.

The bank reported a profit after tax of Rs14.02 billion in the first nine months of 2024, with earnings per share at Rs9.68, reflecting strong financial performance amidst challenging market conditions.

The appointment signals Askari Bank’s commitment to strengthening leadership as it navigates an evolving banking landscape in Pakistan.