The Bank Board Bureau has sought applications for the position of the Managing Director and Chief Executive Officer of state-run Punjab National Bank (PNB). The last date to submit applications is July 17, the bureau said in a public notice.

The current MD & CEO of the bank, SS Mallikarjuna Rao is due to retire on September 18, 2021 after a two-year stint at the helm.

According to the notice seeking applications for the post, the incoming MD & CEO of the bank is expected to hold office for a three-year term.

“Selection will be based on Shortlisting and Personal Interview. Applications received shall be screened and shortlisted based on experience and eligibility conditions. The candidates may be called for preliminary interactions for the purpose of determining their eligibility,” the Bank Board Bureau said.

The bureau said that applicants must be in the 45-57 years age group, and have a minimum experience of 15 years in mainstream banking with at least one year at the Board Level to be eligible.

“Person of ability, integrity and standing with knowledge and experience in Banking; Proven management, leadership and innovative skills to build and inspire team; Experience of institutional development in the banking sector,” were listed as some of the other eligibility criteria.

Punjab National Bank reported a standalone net profit of Rs 586 crores for the quarter ended March 31, 2020. The bank’s gross non-performing assets (NPAs) increased to 14.12 per cent in the March quarter, compared with 12.99 per cent in the previous quarter.

(Edited by : pradeep suresh v)