Vinay Tonse Appointed YES Bank CEO-Designate
YES Bank on Thursday said Vinay Muralidhar Tonse has joined the lender as Managing Director and Chief Executive Officer-Designate after receiving approval from the Reserve Bank of India. He will assume full charge as MD and CEO on 6 April 2026, succeeding incumbent Prashant Kumar.Tonse has been appointed for a tenure of three years. A seasoned banker with more than three decades of experience, he brings expertise across treasury, retail banking, corporate banking, international operations and asset management.
Most recently, Tonse served as Managing Director at State Bank of India, where he headed the bank’s retail operations and oversaw a retail portfolio comprising deposits and advances of around USD 800 billion. He also brings global exposure, having worked in Singapore for two years and led SBI’s overseas operations in Osaka, Japan, for four years. Earlier in his career, he also served as Managing Director and Chief Executive Officer of SBI Mutual Fund.
Tonse will take over leadership at YES Bank from Prashant Kumar, who has been serving as MD and CEO since March 2020 and played a key role in stabilising the bank following its financial restructuring.
Welcoming the appointment, Non-Executive Chairman Rama Subramaniam Gandhi said Tonse’s extensive experience as a senior banker would help drive YES Bank into its next phase of growth. He also acknowledged Kumar’s contribution in strengthening the bank’s foundation and positioning it as a resilient financial institution.
Independent Director and Chairperson of the Nomination and Remuneration Committee Nandita Gurjar said the board undertook a comprehensive search and evaluation process as part of structured succession planning. She added that the committee unanimously recommended Tonse’s appointment, citing his strong leadership credentials, governance track record and ability to steer transformation.
Rajeev Kannan, Non-Executive Director of YES Bank and a senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s leadership experience across retail and corporate banking, asset management and international markets positions him well to guide the lender’s growth ambitions. He noted that SMBC would continue to work closely with the new CEO and the board to strengthen governance and support sustainable expansion.
On his appointment, Tonse said he was honoured to be part of YES Bank’s legacy and looked forward to leveraging his experience to strengthen the institution further. He also acknowledged the contributions of his predecessor in reinforcing the bank’s operational and financial base, and reiterated his commitment to creating long-term value for stakeholders.
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