7 days ago
- Business
- Business Standard
Govt extends tenure of Punjab & Sind Bank MD S K Saha till Feb 2027
The Union government has extended the tenure of Swarup Kumar Saha, managing director and chief executive officer of Punjab & Sind Bank, until his superannuation on February 28, 2027, or until further orders, whichever is earlier.
According to an official notification issued by the Department of Financial Services under the Ministry of Finance, Saha's current term was set to end on June 2, 2025. 'The extension has been granted under clause (a) of sub-section (3) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980,' said the notification.
On May 20, Business Standard reported his extension. Saha, born on February 8, 1967, took over as MD and CEO of Punjab & Sind Bank in June 2022. He has over three decades of experience in the banking sector, having served in various senior roles prior to his appointment.
Punjab & Sind Bank reported a strong financial performance in Q4 and the full financial year 2024–25 (FY25). The bank's net profit surged by 125.18 per cent in Q4 FY25, reaching Rs 313 crore, while net profit for the entire FY25 rose by 70.76 per cent to Rs 1,016 crore. The bank's net interest margin (NIM) for Q4 FY25 improved by 87 basis points to 3.19 per cent, while the yield on advances rose by 102 basis points to 9.69 per cent. Return on assets (RoA) for the quarter increased by 41 basis points, reaching 0.79 per cent. Net interest income (NII) for Q4 FY25 grew sharply by 62.84 per cent, totalling Rs 1,122 crore.
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