Bank Albilad CEO resigns, Al Qunaibit to take over

Bank Albilad said Abdulaziz AlOnaizan will take on another role within the bank after stepping down as CEO

Bank Albilad said its board approved the resignation of CEO Abdulaziz AlOnaizan, effective April 23, as he will assume another role within the bank, according to a statement to Tadawul.

The board appointed Bashaar Al Qunaibit as CEO, effective June 1, following a non-objection from the Saudi Central Bank (SAMA).

Al Qunaibit holds a bachelor’s degree in business administration and has more than 25 years of experience in banking and financial institutions, most recently serving as senior executive vice president for businesses at the bank.

In a separate statement, the bank announced a broader board reshuffle approved after receiving SAMA’s non-objection.

It said Chairman Nasser AlSubeaei will step down effective June 1, while remaining a board member and executive committee member until the end of the current term in April 2028. Abdulaziz AlOnaizan will assume the role of board chairman and head of the executive committee effective the same date, with his status changing to non-executive member.

The board also approved the resignation of Deputy Chairman Adeeb Abanumai, effective June 1. He will continue as a board member and head of the audit committee until the end of the current term in April 2028.

Nasser AlSubeaei was appointed deputy chairman effective June 1, until the end of the current board term.