The shareholders of the Bahrain-based Khaleeji Commercial Bank (KHCB) elected a new board for the next three years during annual general meeting held at the Gulf Hotel.
The meeting approved of the financial statements for the year ended 31st December 2010, as well as the presentation of the reports of the external auditors and Shari’a supervisory board. The AGM also elected new board of directors subject to the approval of the Central Bank of Bahrain as the previous board completed its three year term.
Dr. Fuad Al Omar, Abdulla Showaiter, Ebrahim H. Ebrahim, Khalid Al Thani, and Abdurahman Jamsheer were elected by the AGM for the new board for three year term.
In addition Mussabeh Al Mutairi, Khalid Al Maskati, Tareq Fakhroo, Abdulrahman Al Kooheji, and Mohammad Al Mutair were appointed in the new board.
The shareholders expressed their gratitude to all retiring boards’ directors for their service and contribution during the past three years.
“The bank’s new strategic plan is focused on expanding its commercial banking business. Key elements of the plan include launching and growing the retail banking business in Bahrain, increasing the Bank’s share of business in the local corporate and business markets and expanding the Bank’s commercial banking business in the regional markets, while continuing to leverage on its investment banking capabilities. In connection with these aims, the Bank will open three new branches this year in and will also use other channels to reach a larger number of customers,” said Abdullah Showaiter, Vice Chairman of KHCB.
The AGM also expressed its appreciation to the contribution made by the board of directors, as well as the teamwork and dedication of the executive management and staff of the Bank in achieving these results. They also expressed their confidence that the incumbent board is capable of seeing through the current financial turmoil and achieving more success.
