Hassan O. Rashid to join EBL

Seasoned banker Hassan O. Rashid has resigned as Chief Executive Officer of Prime Bank PLC and plans to join Eastern Bank Limited (EBL) as its top executive, subject to regulatory clearance.

The move marks a return to EBL for Mr Rashid, who previously served the bank in senior leadership roles before taking charge of Prime Bank in 2021.

According to a posting on the Dhaka Stock Exchange (DSE) website, Prime Bank informed that its Board of Directors, at its 589th meeting held on February 10, 2026, accepted Mr Rashid's resignation from the position of Chief Executive Officer with effect from March 31, 2026, subject to approval from Bangladesh Bank.

The Board has appointed Mr Faisal Rahman, currently serving as Additional Managing Director of the bank, as Acting Chief Executive Officer of Prime Bank PLC with effect from April 1, 2026.

Contacted by The Financial Express, Mr Rashid confirmed his resignation. "Yes, I am planning to join EBL, subject to Bangladesh Bank's approval," he said.

The experienced banker previously worked at Eastern Bank for eight years as Deputy Managing Director (DMD) and Additional Managing Director (AMD) before moving to Prime Bank as its top executive in 2021.

"Interestingly, my late father, M A Rashid, also worked for Bank of Credit and Commerce International (BCCI), the previous name of EBL, as CEO. So it is a very emotional assignment for me. Please keep me in your prayers," he added.

Reflecting on his tenure at Prime Bank, Mr Rashid said: "I have been with Prime Bank for five years and increased net profit from Tk 1.82 billion to Tk 7.40 billion in 2024. We delivered strong performance in 2025 as well, reduced non-performing loans to 1.98 per cent from 4.0 per cent, and doubled the balance sheet."

Mr Rashid brings more than 31 years of experience in the banking industry, having held senior positions in corporate banking, risk management, SME and retail banking in both local and multinational institutions.

He began his career with Credit Agricole Indosuez before moving to HSBC and Standard Chartered Bank in various senior leadership roles.

A graduate of Capital University in the United States in economics and business administration, Mr Rashid earned a master's degree in international management from the Garvin School of Management, Thunderbird, US.

He is also a certified Credit Professional of Omega, UK.

The tenure of current Managing Director of Eastern Bank, Ali Reza Iftekhar, is set to end on April 19, and Mr Rashid is expected to succeed him, subject to regulatory approval.

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