The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
South Asia

Pakistan: Bank of Punjab makes a national splash

Zafar Masud survived a plane crash a month after he took over as Bank of Punjab’s chief executive. The experience pushed him to double down on his beliefs – and take this regional Pakistani bank to the next level.

Zafar Masud, chief executive of Bank of Punjab

Zafar Masud is a survivor: one of just two people who survived when a Pakistan International Airlines flight from Lahore to Karachi crashed in May 2020. The other 97 people on board were killed. Masud’s seat fell outside the aircraft on impact and he was rescued by locals. He fractured his hip and collar bones and had to have multiple operations.

Just one month earlier, Masud had started a new job as chief executive of Bank of Punjab, a Pakistani commercial bank in which the government of the province of Punjab has a majority stake. His near-death experience strengthened his belief in the importance of people and empathy.

“In anything and everything, it’s all about people,” he says. “My entire philosophy of management has been around people. It's for people, for the welfare of people and their benefit – whether those are our communities, or customers or employees. This is always about people.”

Empathy, he says, is what makes the difference “between boys and men”.

“Empathy is something I believe in, I worship, I exercise,” he adds.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree