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Saudi British Bank (SABB) has reappointed trailblazing Lubna Sulaiman Olayan as chair of the board of directors for another three-year term.
Olayan was first appointed to the role in 2019 and was the first woman to serve as the head of a Saudi Arabian bank.
Olayan was CEO of the Olayan Financing Company, one of the kingdom's largest conglomerates, until she stepped down in April 2019. The company, founded by her father in 1947, focuses on distribution, manufacturing, services and investments.
Saad Abdulmohsen Al Fadly was appointed as vice chairman of the bank at its ordinary general assembly subject to non-objection from the Saudi Central Bank (SAMA).
The bank reported profits of SAR 1.397 billion ($372 million) in the third quarter of 2022, up from SAR 886 million year-on-year, while profits for the first nine months of 2022 were up to SAR 3.483 billion from SAR 2.774 billion in 2021.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
