45-year-old Saddat MD joins Community Bank as MD; earlier MDs were also in their 40s

The role of the Managing Director (MD) is important in maintaining the financial stability of a bank and ensuring good governance while providing innovative services in line with modern technology. Usually, long experience and maturity of age are considered as criteria for this top position.

However, people under 30 years of age are also seen in this position elsewhere in the world. Last year, Paolo Costa became a Managing Director at Goldman Sachs at the age of 29. Earlier, he worked as an investment officer and analyst. A similar situation is also being seen in private banks in Bangladesh.

According to Bangladesh Bank rules, a minimum age of 45 years and 20 years of experience are required to become a Managing Director (MD) of a bank. Among these, three years of experience as Deputy Managing Director (DMD) or Additional MD is necessary. Meeting these conditions, Kimiwa Saddat is going to take responsibility as the MD of Community Bank.

He will take charge as the MD of Community Bank, owned by Bangladesh Police Welfare Trust, on 14 May. At that time, his age will be slightly above 45. The day before, he will complete three years in the roles of DMD and Additional MD. Through this, he will start serving as one of the youngest MDs in the country’s banking sector. Since April 2025, he has been performing the current charge of MD alongside his role as Additional MD. He has informed Prothom Alo about his plans regarding Community Bank.

Before joining Community Bank, Kimiwa Saddat was the Deputy Managing Director (DMD) of Meghna Bank. He has 23 years of experience in both local and multinational banking sectors. In his illustrious career, he served in important positions in leading institutions like HSBC Bangladesh, The City Bank, and Eastern Bank.

Kimiwa Saddat completed BBA and MBA in Finance from the University of Dhaka and started his banking career. He is a Certified Financial Consultant (CFC).

Since taking leadership of Community Bank in April 2025, the bank has been performing well over the past few months. During his tenure (April 2025–December 2025), the bank’s net profit increased by 49 per cent to exceed Tk 1 billion. Earlier, in 2024, the net profit was Tk 700 million. At the same time, deposits increased by 32 per cent or Tk 19.56 billion to stand at Tk 80.38 billion. Also, loans increased by Tk 3.64 billion last year to reach Tk 56.11 billion.

The bank has shown enviable success in non-performing loans. In 2024, non-performing loans were 3.08 per cent, which decreased to 1.60 per cent. Through this, he has shown capable leadership. The bank has built a strong base through investment in government treasury bills and bonds, the amount of which is Tk 35 billion.

Last year, under Kimiwa Saddat, Community Bank introduced a cashless system for collecting traffic fines through BanglaQR for the first time in Bangladesh. At the same time, the bank has shown success in digital transactions. Currently, about 64 per cent of the bank’s transactions are being completed through internet banking. Thirty per cent of new accounts are being opened digitally.

Besides, the bank has launched SME 30, Startup Nest, and ‘Probash Sanchay’ platform for expatriates. The bank has received Bangladesh Bank approval for offshore banking and an Islamic banking wing. To meet the immediate financial needs of general customers, a digital nano-loan system has been introduced.

Kimiwa Saddat dreams of building Community Bank into one of the most stable, technology-driven, and well-governed banks in Bangladesh. He told Prothom Alo that his work plan is based on four main pillars. These are strengthening governance and risk management, sustainable business growth, increasing operational efficiency, and managing financial stability and liquidity.

Currently, the bank has 19 branches and 5 sub-branches. Besides, the bank has 187 ATM booths, among which 111 booths have customer service centres. Through these, Community Bank is providing full banking services. As a result, the bank has reached across the country.

In the next three years, the bank plans to open 10 new branches, 15 sub-branches, and 50 agent banking outlets. By 2027, there is a plan to establish a full Security Operation Centre and by 2026 to create a Disaster Recovery (DR) site.

By 2028, targets have been set to increase deposits to Tk 115 billion and loans to Tk 88 billion. During this time, full implementation of Islamic banking services, offshore banking, and bancassurance services is in process.

Kimiwa Saddat’s main goal is to bring Community Bank into one of the most profitable positions among new-generation banks within the next three years and keep the non-performing loan rate at the lowest level. He told Prothom Alo, “We want to deliver consumer loans to customers through Community Bank. We have ATM booths and service centres across the country. Through these, we will increase consumer loans. There are 200,000 police members. They are our main customers. At the same time, the general public will also be our priority. These loans will be repaid from salary. So these loans are safe.”

Before 2023, 15 years of experience and a minimum age of 40 years were required to become a bank MD. Even then, many became MDs at a young age. Most of them are known as successful MDs. Some have retired, some are still in position.

Among local private banks, in 2001, K Mahmood Sattar became the MD of Eastern Bank when his age was 41 years 8 months. Later, he retired from the MD position of City Bank. In 2006, the late Imran Rahman became the MD of BRAC Bank at age 44. In 2007, Ali Reza Iftekhar took responsibility as MD of Eastern Bank at age 46; recently he has retired. In 2010, at age 48, Syed Mahbubur Rahman became MD of BRAC Bank; currently he is the MD of Mutual Trust Bank. In 2013, at age 45, Sohail RK Hussain became MD of City Bank; currently he is the MD of Bank Asia.

In 2016, Arfan Ali became MD of Bank Asia at age 47; currently he is Chairman of Zaytoon Business Solutions. In 2017, at age 45, Rahel Ahmed became MD of Prime Bank; currently he is Managing Partner of Bee Global Trade Finance. In 2019, Masrur Arefin took responsibility as MD of City Bank; at that time his age was 48. The ages have been confirmed by speaking with the respective MDs and banks.