CEO – Samba Bank Limited

Evolve: What are the major developments that have taken place in Samba Bank since you assume the role of CEO in 2013? Also please enlighten us about your products. 

Shahid Sattar: The journey of Samba Bank began in 2007 when Samba Financial Group acquired Crescent Commercial Bank. Samba Bank was incorporated in 2007 but the actual operations commenced on January 1, 2008. With the perspective to steer the bank to success, I took over the position in August 2013 and we have been growing since then. The financial numbers of the bank speak for themselves. Since 2014, the profit is increasing every year. Our paid-up capital and reserves were at 10 billion which rose over 11.5 billion as of today. Some new products were introduced in 2014 which helped boost the financial figures. The bank made a pre-tax profit of 815 million last year which is anticipated to increase this year.

In 2015-16, we added new products to the retail portfolio, strengthen our corporate and investment division along with our treasury department, improved our profitability and witnessed unprecedented growth in deposit of around 25% every year with 15-20% growth in our corporate portfolio. In September 2015, a new department of Commercial Banking was introduced while SME division is added to our product suite this year. One of bank’s prime focuses is on the up gradation of technology. We have added state-of-the art equipment and latest hardware to strengthen our technological base. In order to be technologically advanced, we are in the process of implementing T24 R15 core banking solution which will help us achieving our endeavours in 2017. 

In the fast-paced world of today, people are looking for convenience and the telecom boom has provided them the ease to operate by sitting at homes. Samba Bank is investing heavily in its digitalisation process. We have upgraded Samba Online, an online/ digitalized banking service for our customers, and upgraded our call centres to provide better service. Samba Bank acquired 28 branches in 2008 when it was launched. We have added 09 more branches in 2015-16, and another 3 branches will be opened by the end of this year. We are aiming for a network of 40 strategically located branches in 11 cities of Pakistan by December 2016. 

Evolve: How have been the policies of the government towards the banking sector? 

Shahid Sattar: The present government is playing an active role in improving the banking sector. As the Governor State Bank has a vast experience in commercial banking, the rules and regulations which had been pending for years are now taking the shape of law. The government’s effort in implementation of enhanced Anti-money laundering (AML) laws and Know your customer (KYC), and the successful completion of IMF programme is commendable. It is due to the government’s strategic policies that the foreign reserves have crossed an all time high mark (22-23 billion dollars) and the dollar exchange rate is stabilised. The regulator has also implemented a robust consumer protection framework for safeguarding the interests of the customers.

Evolve: What role is SBL playing in the economic development of the country? 

Shahid Sattar: Samba Bank is the only Saudi Bank operating in Pakistan with a long term commitment to stay. In 2015, we launched commercial Banking to facilitate lending to out mid tier customers. In 2016, we have launched SME lending as well in order to contribute further in the economy of the country and to increase our reach to all segments of the society. 

We are providing numerous employment opportunities, as part of our human resource policies. We are investing in training and development of the young talent of Pakistan, we have launched Management Trainee and Operation Trainee Programme last year and are hiring fresh graduates directly from universities, hence providing them the chance to shape their careers and contribute to the betterment of the country.

Evolve: What are the current challenges of managing a bank in Pakistan? 

Shahid Sattar: The competition is getting tougher with each passing day which is a challenge while an opportunity to grow as well. To implement the anti-money laundering laws and staying updated on latest technology trends are some of the biggest challenges for the financial industry. 

Evolve: What makes Samba Bank stand out? 

Shahid Sattar: Samba Bank is one of the few foreign banks operating successfully in Pakistan. As our principles are based in Saudi Arabia, we are working on make the Hajj and Umrah Remittance process easier in Pakistan. Being a small bank, we provide high quality and personalised services to our customers. We are working as a bridge to strengthen the brotherly relationship between Saudi Arabia and Pakistan, and are playing a key role in equity participation. 

Evolve: How do you see the banking sector growing 10 years from now? 

Shahid Sattar: With a population of over 200 million people, Pakistan is a great consumer market which has a lot of room to grow. Despite the fact that the country is doing quite well, less than 20% of the people are availing the banking facilities, which means a huge 80% population is still untapped. Bringing people into the banking channel is an enormous challenge for the banking industry and government. 

The banking industry has a room to introduce customer centric products and services, adapt technology and launching new products to serve the customers. We have a huge potential to grow as an industry and serve this country towards attaining the economic and financial goals.