Mr. Yousaf Hussain was appointed as the Acting Chief Executive earlier this year
Pakistan, Karachi, 1st August 2017: The Chairman and Board of Directors of Faysal Bank Limited are pleased to appoint Mr. Yousaf Hussain as the President & Chief Executive Officer of the Bank, for a period of three years, subject to all regulatory approvals.
Mr. Farooq Rahmatullah Khan, Chairman of the Board of Directors, Faysal Bank Limited stated, “The Board is pleased to appoint Mr. Yousaf Hussain as the President & Chief Executive Officer and reposes full confidence in him to lead the organization and meet the envisaged growth objectives under the strategic vision of the Board.”
Mr. Hussain has over 22 years of multifaceted experience with prime local & multinational organizations, including multiple senior managerial & leadership positions within Business and more recently with Risk Management function, primarily at ABN AMRO Bank and Faysal Bank Limited. He has been with Faysal Bank Limited since August 2008 and has contributed significantly towards the growth & success of the franchise. His rich experience also includes a senior role with Samba Bank as the Country Head, Global Transaction Services Business and earlier assignments with Mashreq Bank and Mobilink. He has done his Master’s in Business Administration from the Lahore University of Management Sciences.
The Board and the management of Faysal Bank Limited wish him success in his role. Mr. Hussain was appointed as the Acting Chief Executive earlier this year in May.
About Faysal Bank Limited:
Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a Public Limited Company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in Commercial, Retail, Corporate and Islamic banking activities. Barkat is the dedicated Islamic Banking Division of Faysal Bank offering Shariah compliant banking products and services for all segments of the market through its 150 plus full-fledged Islamic banking branches.
Faysal Bank’s footprint now spreads over more than 100 cities with over 365 branches (including 158 Islamic branches). With total assets in excess of PKR 444.5 billion, placing it amongst the significant players in Pakistan’s banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.
Faysal Bank Limited has been duly licensed as a Commercial Bank by the State Bank of Pakistan (SBP). It carries on banking business activities in line with the Banking Companies Ordinance, 1962 and its Banking License is issued by SBP.
JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Faysal Bank Limited (FBL) at ‘AA/A-1+’ (Double A/A-One Plus). Rating of the unsecured, subordinated Term Finance Certificates (Issue II) of FBL has also been reaffirmed at ‘AA-’ (Double A Minus). Outlook on the assigned ratings is ‘Stable’.
The Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term and the short-term entity ratings of Faysal Bank at “AA” (Double A) and “A1+” (A One plus), respectively. These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. Outlook on the outstanding ratings is ‘Stable’.