IslamicFinance.de

The chairman of Abu Dhabi's government-owned Al Hilal Bank has resigned, a week after the chief executive quit. Ahmed Ateeq al-Mazrouei, chairman since 2008, has left for personal reasons. Senior board member Mohamed Abdullah al-Rumaithi has been appointed to succeed him. Last week Al Hilal's chief executive Mohamed Jamil Berro resigned, also citing personal reasons, after seven years with the bank. Al Hilal's profit for 2014 plunged to 90 million dirhams ($24.5 million) from 442 million dirhams in 2013 because of large loan impairments, according to the lender's latest financial statement. The bank's total assets grew to 41.4 billion dirhams from 38.7 billion dirhams.