Abu Dhabi – Mubasher: Varouj Nerguizian has retired from his position as the CEO of Bank of Sharjah after leading the lender for 30 years.

Nerguizian was nominated as an advisor to the board, according to a bourse filing.

Meanwhile, the ADX-listed bank named Mario Tohme, who is General Manager, as an interim CEO.

In the first nine months (9M) of 2022, Bank of Sharjah’s net losses attributable to the equity holders plummeted to AED 281.35 million from AED 1.29 billion in the year-ago period.

The operating income fell to AED 459.73 million in 9M-22 from AED 664.83 million in 9M-21, whereas the basic and diluted loss per share retreated to AED 0.12 from AED 0.59.