BOP running without president for four months

The Bank of Punjab has not been able to appoint a permanent president thus far


Our Correspondent March 30, 2019
The Bank of Punjab has not been able to appoint a permanent president thus far. PHOTO: FILE

LAHORE: The post for Bank of Punjab president has been lying vacant since the resignation of Naeemuddin Khan four months ago.

The Ministry of Finance has already shortlisted candidates for the position and the file containing the names of shortlisted candidates is now lying with the Punjab chief minister.

The Bank of Punjab has not been able to appoint a permanent president thus far.

In 2018, the bank reported a record after-tax profit of Rs7.5 billion. The bank also paid 7.5% dividend after a lapse of 10 years. It has been playing a key role as tax collection agent in the province.

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Currently, Bank of Punjab has 576 branches allowing it to play a pivotal part in the economic development of the province.

However, according to senior Bank of Punjab officials, the bank has not been able to make permanent decisions due to the absence of a president.

The current financial position of the bank is also stable due to which it is fast expanding its market share.

Hence, appointment of the bank's president is crucial in light of the State Bank of Pakistan's prudential regulations.

Published in The Express Tribune, March 30th, 2019.

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