Esterad Bank unveils new identity, appoints 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, and appointing Ahmed Abdulrahman as acting CEO.

The bank aims to reflect its aspirations for sustainable growth and to pave the way for new horizons under the umbrella of Esterad Investment Co, the new bank’s partner in its ambitious journey towards advancement and prosperity. This announcement comes after the Bank obtained regulatory approval and shareholders’ endorsement.

The updated strategy of Esterad Bank and its new business model focus 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 said it 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., specialised in direct investments, real estate investments, and securities.

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, Shaikh 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.

He emphasized the Bank’s confident steps toward a promising future that fulfills the expectations of our shareholders and investors, with partners at the core of our strategy.

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 regionallyand delivering the highest levels of efficiency, dedication, and success in development and innovation.”

Ahmed Abdulrahman has holds a Bachelor’s degree (with honors) in Business Systems and Information Technology from Northumbria University, Newcastle, United Kingdom.