The Narendra Modi government on Monday (June 2) extended the tenure of Swarup Kumar Saha as Managing Director and Chief Executive Officer of Punjab & Sind Bank until February 28, 2027, or until further orders, whichever is earlier.
Saha's current term was set to conclude on June 2, 2025. Saha took charge as MD and CEO of Punjab & Sind Bank in 2022.
According to a notification issued by the Department of Financial Services, the government has extended the tenure of Saha as MD and CEO of Punjab & Sind Bank beyond his currently notified term, which was ending on June 2, 2025 till the date of his superannuation that is February 28, 2027 or until further order.
Also Read: PSU Stock Crash: State-run lenders Punjab & Sind Bank, UCO Bank fall up to 20%
The notification comes following the approval of the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
For the fourth quarter ended March 2024, Punjab & Sind Bank had reported over two-fold jump in net profit at ₹313 crore, as against ₹₹139 crore in the year-ago period.
During the quarter, the bank's total income increased to ₹3,836 crore, from ₹2,894 crore a year ago. Interest income grew to ₹3,159 crore in the reported quarter, from ₹2,481 crore in the fourth quarter of FY24. Net Interest Income (NII) in the reported quarter also improved to ₹1,122 crore, from ₹689 crore in the same period a year ago.
Also Read: Punjab and Sind Bank Q3 Results | Net profit zooms 147% to ₹282 crore with double-digit NII growth
Shares of Punjab & Sind Bank Ltd ended at ₹33.13, up by ₹1.14, or 3.56%, on the BSE.
Saha's current term was set to conclude on June 2, 2025. Saha took charge as MD and CEO of Punjab & Sind Bank in 2022.
According to a notification issued by the Department of Financial Services, the government has extended the tenure of Saha as MD and CEO of Punjab & Sind Bank beyond his currently notified term, which was ending on June 2, 2025 till the date of his superannuation that is February 28, 2027 or until further order.
Also Read: PSU Stock Crash: State-run lenders Punjab & Sind Bank, UCO Bank fall up to 20%
The notification comes following the approval of the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
For the fourth quarter ended March 2024, Punjab & Sind Bank had reported over two-fold jump in net profit at ₹313 crore, as against ₹₹139 crore in the year-ago period.
During the quarter, the bank's total income increased to ₹3,836 crore, from ₹2,894 crore a year ago. Interest income grew to ₹3,159 crore in the reported quarter, from ₹2,481 crore in the fourth quarter of FY24. Net Interest Income (NII) in the reported quarter also improved to ₹1,122 crore, from ₹689 crore in the same period a year ago.
Also Read: Punjab and Sind Bank Q3 Results | Net profit zooms 147% to ₹282 crore with double-digit NII growth
Shares of Punjab & Sind Bank Ltd ended at ₹33.13, up by ₹1.14, or 3.56%, on the BSE.
First Published: Jun 3, 2025 1:11 AM IST
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