Venture Capital Bank is now Esterad Bank, names Ahmed Abdulrahman as Acting CEO

TDT | Manama                                                     

The Daily Tribune – www.newsofbahrain.com

Venture Capital Bank revealed its new corporate identity yesterday, changing its name to Esterad Bank. The bank also named Ahmed Abdulrahman as Acting CEO to reflect its aspirations for sustainable growth and pave the way for new horizons under the umbrella of Esterad Investment Co B.s.c.

The updated strategy of Esterad Bank and its new business model focuses on capturing rare transformative investment opportunities with high returns in the Gulf region, particularly in Bahrain and the Kingdom of Saudi Arabia, through its licensed companies in the Kingdom.

The Bank is transitioning into a new phase characterized by a new strategic direction aiming to create profitability, achieve further growth, and stand out with unique investments on both local and Gulf levels. Esterad Bank also announced the appointment of Ahmed Abdulrahman as Acting CEO.

Ahmed Abdulrahman brings to the Bank a wealth of experience exceeding 20 years in investment banking, mergers, and acquisitions. As part of his new role as Acting CEO of Esterad Bank, Ahmed Abdulrahman will be responsible for supervising and implementing the Bank’s new strategy to elevate its operations to meet the expectations and ambitions of its shareholders.

In addition to his role as the acting CEO of Esterad Bank, Ahmed Abdulrahman also holds the position of CEO at Esterad Investment Co B.S.C., specialized in direct investments, real estate investments, and securi[1]ties.

Mr. Ahmed Abdulrahman further assumes the role of Vice Chairman of the Board of Directors at Esterad Bank and serves as a board member of Bahrain Telecommunications Company (Batelco), while also holding the position of Vice Chairman of the Board of Directors at Dhiraagu, the largest telecommunications company in the Maldives, in addition to his membership in the boards of directors of other companies in and outside Bahrain.

Commenting on the new phase, Sheikh Mohammed Bin Duaij Al Khalifa, Chairman of the Bank’s Board of Directors, stated that the new brand identity will accompany Esterad Bank on its journey towards growth and excellence, driven by the passion of the new team and their determination to overcome challenges.

In response, Ahmed Abdulrahman stated, “I look forward to collaborating with the Board of Directors and Bank staff to achieve our desired goals, meeting the ambitions of shareholders and employees, and scripting a new chapter in the Bank’s history of successes to strengthen its position both locally and regionally and delivering the highest levels of efficiency, dedication, and success in development and innovation.”