The landscape of Bangladesh’s private banking sector is set for a significant transition following the resignation of Hassan O. Rashid, the Managing Director and Chief Executive Officer of Prime Bank PLC. His departure marks the conclusion of a successful chapter for Prime Bank as he prepares to take the helm of another top-tier financial institution.
Formal Resignation and Interim Leadership
In a board meeting held on 10 February 2026, the directors of Prime Bank formally accepted Mr Rashid’s resignation. As a publicly traded entity on the Dhaka Stock Exchange (DSE), the bank officially notified its investors of the leadership change on Sunday, satisfying stringent regulatory disclosure requirements.
According to the bank’s official filings, Mr Rashid will continue in his current role until 31 March 2026, pending final approval from the central bank. To ensure a seamless transition and operational continuity, the board has appointed Faisal Rahman, the current Additional Managing Director (AMD), as the Acting CEO effective from 1 April 2026.
A Strategic Move to Eastern Bank
Industry insiders have confirmed that Hassan O. Rashid is poised to succeed Ali Reza Iftekhar at Eastern Bank PLC (EBL). Mr Iftekhar, a veteran of the industry who has led EBL with distinction since 2007, is scheduled to complete his tenure on 19 April 2026. Mr Rashid’s appointment is viewed as a strategic move by EBL, seeking a seasoned hand to maintain the momentum established over the last two decades.
Speaking on his departure, Mr Rashid noted, “I have received an offer to lead another private commercial bank. Consequently, I have tendered my resignation at Prime Bank and expect to commence my new role in April, subject to Bangladesh Bank’s endorsement.”
Prime Bank’s Robust Financial Standing
Hassan O. Rashid leaves Prime Bank in an enviable financial position. The institution has demonstrated remarkable resilience and growth over the past year, as evidenced by its impressive profit margins.
| Financial Indicator (Jan–Sept) | 2024 Performance | 2025 Performance | Growth Rate |
| Net Profit | 495 Crore BDT | 629 Crore BDT | 27% |
| Market Category | ‘A’ Category | ‘A’ Category | Stable |
| Current Share Price | — | 35.50 BDT | — |
Legacy and Future Outlook
Established in 1995 and listed on the stock exchange in 2000, Prime Bank remains a cornerstone of the domestic financial market. Its 27% year-on-year profit surge highlights a period of aggressive yet stable expansion under Mr Rashid’s stewardship. As he transitions to Eastern Bank, the industry will be watching closely to see if he can replicate this trajectory at his new post.
Meanwhile, Faisal Rahman steps into the acting role with the task of sustaining this upward trend during a period of broader economic recalibration in the region.