Yes Bank has appointed Vinay Muralidhar Tonse as the new Managing Director and CEO for a 3-year tenure.
Yes Bank, in its BSE release, informed that it has received the Reserve Bank of India’s (RBI) approval to appoint Tonse as new MD & CEO as Prashant Kumar, the current Managing Director and CEO of the Bank, is currently serving an extended term.
Who is Vinay Tonse
The tenure of Tonse will be effective from the date he assumes charge, which has not being announced yet. His appointment date will be subject to approval by the Bank’s shareholders.
Tonse was earlier the Managing Director in charge of Retail Business and Operations at State Bank of India and held the position until November 30, 2025.
Yes Bank Q3FY26
In its recent Q3FY26, YES Bank reported a 55% jump in its profit to Rs 952 crore, aided by a sharp fall in provisions.
Its core net interest income grew 10.9% to Rs 2,466 crore on the back of 0.10% expansion in the net interest margin and a loan growth of 5.2%.
The bank is targeting a loan growth of 8% for FY26.
Yes Bank share price
The share price of Yes Bank gained 1.45% in the intraday trade from the previous close. The stocks has gained 13.92% in past six months.