Khaleeji Bank CEO Sattam Algosaibi steps down

Khaleeji Bank announced that its Chief Executive Officer Sattam Algosaibi has resigned from his position, with his last working day on March 31, 2026.

The bank’s board of directors, chaired by Yousif Abdulla Taqi, accepted the resignation and praised Algosaibi for his leadership and contributions during his tenure, highlighting his role in strengthening the bank’s position within the Kingdom’s banking sector.

In a statement, the chairman credited Algosaibi with achieving several key milestones, including improving institutional performance and reinforcing the foundations for sustainable growth. He noted that the outgoing CEO helped the bank navigate the rapidly evolving financial services landscape and contributed to advancing its strategic direction.

“On behalf of the Board of Directors, we extend our sincere thanks and appreciation to Sattam Algosaibi for his dedication and commitment throughout his leadership of the bank, and we wish him every success in his future professional endeavours,” Taqi said.

Following the leadership change, the board and executive management reaffirmed their commitment to continuing the execution of the bank’s existing strategy. The bank stated that it remains focused on achieving further positive results, ensuring sustained growth, and enhancing value for customers and shareholders in the coming phase.

The bank also emphasised its continued commitment to delivering best-in-class banking services, improving customer experience, and adopting initiatives aimed at strengthening stakeholder confidence while maintaining its position as a leading financial institution in Bahrain.

Khaleeji Bank did not immediately announce a successor for the CEO position, but reiterated that its strategic priorities and operational direction would continue uninterrupted during the transition period.

Algosaibi joined the bank in 2018 and played a key role in steering it toward its strategic objectives. His tenure was marked by efforts to strengthen the bank’s operational framework and drive its growth agenda, supported by close collaboration with the Board of Directors. 

He brings over two decades of leadership experience in the banking sector, having held senior roles across major institutions in the region. Notably, he previously served as Chief Executive Officer of the Bahrain Development Bank Group and has been a member of several boards. 

On the academic front, Algosaibi holds a Master of Business Administration from DePaul University and a Bachelor of Science in Accounting from King Fahad University of Petroleum and Minerals.