Yes Bank appoints Vinay Muralidhar Tonse as MD & CEO-Designate

YES BANK has announced that Vinay Muralidhar Tonse has joined as Managing Director and Chief Executive Officer-Designate, following approval from the Reserve Bank of India (RBI). He has been appointed for a three-year term and will take over as MD and CEO from Prashant Kumar on 6 April 2026.

With more than three and a half decades in banking, Tonse has worked across treasury, retail banking, corporate banking, international operations and asset management.

Most recently, Tonse was Managing Director at State Bank of India, where he headed retail operations and managed a retail book of nearly USD 800 billion.

He also has international experience, including two years in Singapore and four years leading SBI’s overseas operations in Osaka, Japan. He previously served as Managing Director and CEO of SBI Mutual Fund.

Tonse will succeed Prashant Kumar, who has been Managing Director and Chief Executive Officer of YES BANK since March 2020.

Welcoming Tonse, Rama Subramaniam Gandhi, Non-Executive Chairman of YES BANK, said, “I am certain that Shri. Vinay Tonse with his vast experience as a senior banker will propel YES BANK to its next phase of growth. I look forward to working closely with Vinay ji. The bank meanwhile remains indebted to Shri. Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES BANK is today.”

Nandita Gurjar, Independent Director and Chairperson of the Nomination & Remuneration Committee and Customer Service Committee of YES BANK, said, “The NRC conducted an extensive search and evaluation process as part of the Board’s structured succession planning efforts. The Committee unanimously recommended Mr. Tonse’s appointment, recognizing his exemplar leadership track record with strong governance and ability to drive the organization’s next phase of growth and transformation.”

Rajeev Kannan, Non-Executive Director of YES BANK and Senior Executive of Sumitomo Mitsui Banking Corporation (SMBC), said, “Vinay brings a rare breadth of leadership experience spanning retail and corporate banking, international markets, and asset management. His exposure across Japan and Singapore, combined with his deep understanding of the Indian financial ecosystem, positions him well to lead YES BANK into its next phase of growth. As the largest shareholder, SMBC looks forward to working closely with Vinay and the Board to support YES BANK’s journey towards becoming a top tier private sector bank, anchored in strong governance, sustainable growth and customer centricity.”

On assuming office, Vinay Tonse said, “I am excited to be part of the distinguished legacy of YES BANK. I look forward to bringing my experience and learnings to further strengthen this institution. Together with the Board and my colleagues, I remain deeply committed to creating long term value for all our stakeholders. Guided by my personal motto, ‘Make A Difference’, I firmly believe that, collectively, we will continue to make a meaningful and lasting impact. I would also like to acknowledge the significant contributions of my predecessor, Mr. Prashant Kumar, whose leadership has played a vital role in reinforcing the Bank’s foundation.”