Bank of Punjab Extends Zafar Masud’s Tenure as President and CEO for Another Year

The Board of Directors of The Bank of Punjab (BoP) has approved a one-year extension in the contract of Zafar Masud as President and Chief Executive Officer, effective from April 16, 2026, on the existing terms and conditions.

The decision was taken during an emergent board meeting and follows a notification from the Punjab government, according to official communications shared with the stock exchange and media outlets.

Zafar Masud, who first assumed the role in April 2020, has now led Pakistan’s second-largest public sector bank for over six years. Under his leadership, the bank has reported strong financial performance, including significant growth in profitability, deposits, and digital initiatives targeting small and medium enterprises (SMEs) and agriculture lending.

Masud, a seasoned banker with nearly three decades of experience in commercial and development finance, also serves as Chairman of the Pakistan Banks’ Association (PBA). He is known for steering the bank through challenging economic periods while focusing on low-cost deposits, operational efficiency, and priority sector financing.

This marks the latest in a series of annual extensions granted to Masud, reflecting continued confidence from the board and provincial government in his stewardship of the institution, which maintains a substantial balance sheet and a large branch network across Punjab and beyond.