The chief executive of BMI Bank, Jamal al-Hazeem, has resigned from the position for personal reasons, the Bahraini lender said on Sunday, although he would continue to serve on its board.
BMI Bank agreed in February to merge with fellow Bahraini lender Al Salam Bank as part of a regulator-backed consolidation in the Kingdom’s banking sector, aimed at supporting institutions following political unrest and a local real estate market crash.
A veteran Bahraini banker, Hazeem’s departure was “mutual and amicable” from the role he took up in 2010, the bank said in its statement.
Shares in Al Salam Bank ended Sunday down 5.1 per cent as part of a broadly negative session on the Bahrain bourse. The announcement was made after market hours.