Bank of Punjab extends Zafar Masud’s tenure as President, CEO by one year

The Bank of Punjab’s Board of Directors has approved a one-year extension in the employment contract of Zafar Masud as President and Chief Executive Officer, according to a stock filing by the bank on Tuesday. 

The decision was taken at the board’s 330th emergent meeting held on April 13, 2026, according to an official communication.

The extension will take effect from April 16, 2026, and will continue under the existing terms and conditions.

“We are pleased to inform that Board of Directors of The Bank of Punjab in their 330th (Emergent) meeting held on April 13, 2026, approved the extension in employment contract of Mr. Zafar Masud as President & CEO of The Bank of Punjab for one (01) year w.e.f April 16, 2026, on the existing terms and conditions upon issuance of Notification dated April 13, 2026 by the Finance Department, Government of Punjab,” read the BOP’s notice sent to the local bourse. 

The approval follows the issuance of a notification by the Finance Department, Government of Punjab, dated April 13, 2026.

The development has been communicated to the Pakistan Stock Exchange for dissemination to TRE certificate holders.