Latest news with #SwarupKumarSaha
News18
4 days ago
- Business
- News18
Punjab & Sind Bank Shares In Focus As Govt Extends MD Saha's Term Till Feb 2027
Last Updated: Punjab & Sind Bank's shares are in focus after the government extended MD and CEO Swarup Kumar Saha's tenure until February 28, 2027. Punjab & Sind Share Price: Punjab & Sind Bank's shares are in focus on Tuesday, June 3, after the government extended the tenure of its MD and CEO, Swarup Kumar Saha, until February 28, 2027. His tenure was supposed to end on June 2, 2025. In the filing, Punjab & Sind Bank said, 'We are pleased to inform that Department of Financial Services, Ministry of Finance, Government of India vide Notification No dated June 02, 2025 has extended the tenure of Sh Swarup Kumar Saha, Managing Director & Chief Executive Officer beyond his current notified term which was ending on June 02, 2025, till the date of his superannuation i.e. February 28, 2027 or until further orders, whichever is earlier." Meanwhile, the public bank elevated two Deputy General Managers to General Managers. Punjab and Sind Bank's Share Price History Punjab and Sind Bank's share price history shows varied performance over different periods. Over the past week, the share price gained 2.63%, while the Sensex dropped by 0.98%. In the last two weeks, the price increased by 1.63%, compared to the Sensex's 0.84% decline. Over the past month, the share price rose by 3.81%, outperforming the Sensex's 1.08% gain. However, over three months, the share price fell by 7.15%, even as the Sensex rose by 11.17%. Year-to-date, the share price decreased by 15.64%, whereas the Sensex gained 3.65%. In the last six months, the price dropped by 16.74%, against the Sensex's 1.40% increase. Over the past year, the share price fell by 27.91%, while the Sensex rose by 10.02%. Over two years, the share price was nearly flat with a slight decrease of 0.03%, compared to the Sensex's 30.10% gain. For the last three years, the share price increased by 17.68%, while the Sensex climbed by 45.78%. Over five years, the share price rose by 19.01%, significantly lagging behind the Sensex's 140.57% increase. In the past ten years, the share price fell by 12.32%, whereas the Sensex surged by 199.30%. First Published: June 03, 2025, 08:08 IST
Time of India
5 days ago
- Business
- Time of India
Govt extends tenure of Punjab & Sind Bank MD till Feb 2027
The government on Monday extended the tenure of incumbent Punjab & Sind Bank MD and CEO Swarup Kumar Saha till February 2027. Saha was initially appointed as MD and CEO of the bank for three years. He assumed the charge as MD & CEO of Punjab & Sind Bank on June 3, 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. 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 Rs 313 crore, as against Rs 139 crore in the year-ago period. Live Events During the quarter, the bank's total income increased to Rs 3,836 crore, from Rs 2,894 crore a year ago. Interest income grew to Rs 3,159 crore in the reported quarter, from Rs 2,481 crore in the fourth quarter of FY24. Net Interest Income (NII) in the reported quarter also improved to Rs 1,122 crore, from Rs 689 crore in the same period a year ago. PTI
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Business Standard
5 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.
