R P Singh likely to be appointed as CMD of PNB

R P Singh, who demitted the office of Chairman and Managing Director of Punjab & Sind Bank last week, is likely to be appointed as the chief of the country?s second largest public sector lender Punjab National Bank (PNB).

Singh, a 1976 batch Indian Administrative Officer, served Punjab & Sind Bank for over four and half years and currently awaiting posting.

According to sources, Singh is the front-runner for the job, while Allahabad Bank Chairman and Managing Director K R Kamath and UCO Bank head S K Goel are also in the reckoning.

The notification for the appointment of the Chairman is expected shortly, sources said.

The post of CMD in the bank fell vacant after its head K C Chakrabarty was appointed as RBI Deputy Governor in June this year.

PNB with the network of over 4,600 branches across the country recorded a net profit of Rs 3,091 crore in 2008-09.

The bank with 3.8 crore customers posted a 62.39 per cent rise in net profit at Rs 832.05 crore for the first quarter of the current fiscal.