Askari Bank Limited, a leading financial institution in Pakistan, has announced the appointment of Zia Ijaz as its new President and Chief Executive Officer (CEO). This appointment, effective for a three-year term, was confirmed in a recent disclosure to the Pakistan Stock Exchange (PSX) on January 24, 2025. Zia Ijaz’s leadership comes at a pivotal time as the bank continues to navigate the competitive landscape of Pakistan’s banking sector while focusing on digital transformation and innovation.
The Board of Directors (BoD) of Askari Bank made the official decision during their meeting on Friday, January 24, 2025. The bank’s notice to the PSX outlined that the appointment of Zia Ijaz as President and CEO is contingent on the successful completion of the State Bank of Pakistan’s (SBP) Fit and Proper Test (FPT), along with compliance with all relevant laws, regulations, and rules governing such appointments. This move reflects the bank’s commitment to ensuring that its leadership aligns with the highest standards set by the country’s central bank and regulatory authorities.
Zia Ijaz brings a wealth of experience to the role, having previously held several key positions within Pakistan’s financial services industry. His appointment is seen as a strategic move by Askari Bank to strengthen its executive leadership as it continues to pursue growth opportunities, enhance operational efficiency, and expand its service offerings across Pakistan. Ijaz’s experience in corporate and retail banking, as well as his expertise in digital banking, positions him well to lead Askari Bank through the evolving challenges and opportunities facing the industry.
The appointment of Zia Ijaz also marks a moment of transition for Askari Bank. The BoD of the bank acknowledged the valuable contributions made by Saleem Anwar, who has served as the Acting President and CEO of the bank. Anwar will continue to hold the acting position until Ijaz formally joins as President and CEO, ensuring continuity in leadership during the transition period. The BoD expressed their gratitude for Anwar’s services and leadership, which helped steer the bank through a critical period of growth and change.
Askari Bank, incorporated in 1991 as a public limited company and a subsidiary of the Fauji Foundation, has built a solid reputation as a trusted provider of conventional, corporate, Islamic, consumer, and agricultural banking services. With a nationwide network of 560 branches and sub-branches, the bank has become a key player in Pakistan’s financial ecosystem. Over the years, the bank has worked to diversify its product offerings, catering to both individual customers and businesses, and has remained committed to fostering innovation in the financial sector.
In its latest financial results, Askari Bank reported a profit after tax of Rs14.02 billion for the first nine months of 2024. The bank’s Earnings Per Share (EPS) reached Rs9.68, demonstrating a strong financial performance and indicating its ability to generate solid returns amidst challenging market conditions. This growth is attributed to the bank’s diversified portfolio and its strategic investments in digital banking services, which have proven vital in attracting a tech-savvy customer base.
Zia Ijaz’s leadership will be pivotal as Askari Bank seeks to strengthen its position in the market and expand its reach in the growing digital banking space. The bank’s ongoing initiatives, such as leading the development of Pakistan’s first cashless ecosystem for housing societies, are a testament to its focus on modernizing its offerings and providing innovative solutions to meet the needs of its customers. As the financial sector increasingly embraces digital transformation, Askari Bank’s emphasis on adopting new technologies will be a key driver of its future success.
With Zia Ijaz at the helm, Askari Bank is poised to continue evolving in line with the digital revolution taking place within the financial services industry. His extensive experience, strategic vision, and commitment to excellence will undoubtedly play a significant role in shaping the future trajectory of the bank, ensuring its continued growth and success in a dynamic market.