MCB Bank Limited (PSX: MCB) has announced the appointment of Muhammad Nauman Chughtai as its new President and Chief Executive Officer. The decision was approved by the bank’s Board of Directors during a meeting held on December 11, 2024, according to a notice issued to the Pakistan Stock Exchange (PSX).
Muhammad Nauman Chughtai’s appointment will take effect upon the completion of the current President & CEO Shoaib Mumtaz’s term on December 20, 2024. Additionally, the appointment is contingent upon clearance of the Fit & Proper Test (FPT) by the State Bank of Pakistan (SBP).
In the interim, Chughtai will assume the role of Acting President for a maximum period of three months or until the FPT clearance is obtained, whichever comes earlier.
The Board expressed its gratitude to Shoaib Mumtaz for his valuable contributions during his tenure and extended their best wishes for his future endeavors.
The leadership transition marks a significant development for MCB Bank as it looks ahead to continued growth under its new leadership.
