YES Bank Appoints Vinay Tonse as Chief Executive Officer and Managing Director

YES Bank Appoints Vinay Muralidhar Tonse as Managing Director and CEO

YES Bank, a private sector lender, has appointed Vinay Muralidhar Tonse as its managing director and chief executive officer for a three-year term, effective 6 April. Tonse has joined the bank as managing director and chief executive officer-designate, taking over from incumbent Prashant Kumar.

Background Prashant Kumar has led the bank since its reconstruction in 2020 and will step down after three terms. The change follows the acquisition of a 24.2% stake in the lender by Sumitomo Mitsui Banking Corp. (SMBC), a Japanese financial services giant. SMBC currently operates in India in branch mode from offices in New Delhi, Mumbai, Chennai, and Bengaluru.

Appointment Process The nomination and remuneration committee (NRC) and customer service committee of YES Bank conducted an extensive search and evaluation process as part of the board's structured succession planning efforts. The committee unanimously recommended Tonse's appointment, recognizing his exemplar leadership track record, strong governance, and ability to drive the organization's next phase of growth and transformation.

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Experience and Credentials Tonse brings over 35 years of experience across treasury, retail banking, corporate banking, international operations, and asset management. He most recently served as managing director at State Bank of India (SBI), where he headed retail operations, overseeing a book of around ₹16 trillion, more than six times YES Bank's entire loan book.

Key Focus Areas The focus for Tonse will be on growing the bank's retail and corporate banking franchises, expanding the branch network, and reinforcing strong governance, risk management, and customer-centric growth.

Financial Performance YES Bank reported a 5.5% year-on-year rise in deposits to ₹2.9 trillion in the third quarter of FY26, lagging peers such as IDFC First Bank Ltd and Federal Bank Ltd. The lender also trails peers on margins, with a net interest margin (NIM) of 2.6%, compared with 5.7% at IDFC First Bank and 3.18% at Federal Bank.

Share Price Shares of YES Bank ended nearly 1% lower at ₹19.34 on the NSE.

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