Punjab & Sind Bank names CMD after 18 months | india | Hindustan Times
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Punjab & Sind Bank names CMD after 18 months

india Updated: Nov 04, 2011 21:21 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The government has finally appointed DP Singh who served as additional secretary, ministry of earth sciences, as the chairman and managing director of Delhi-based Punjab & Sind Bank. The bank has been functioning without a CMD for the last 18 months as the finance ministry failed to identify a Sikh who could take up the top job.

Singh joined office on Friday. PK Anand would continue as executive director.

Last week, the bank reported a 35% increase in net profit at Rs 148 crore for July-September quarter, driven by strong recovery of bad loans.

While most public sector banks have seen a surge in bad loans, P&S Bank has managed to keep the level of its net non-performing assets below 1%.