Yes Bank has appointed veteran banker Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer-designate, marking a major leadership transition for the private lender. Tonse, a former Managing Director at State Bank of India, will assume charge from April 6, 2026, succeeding incumbent CEO Prashant Kumar.

Key Highlights

• Veteran banker Vinay Tonse will assume charge as Yes Bank’s MD and CEO from April 2026.
• Former SBI managing director brings over three decades of banking experience to lead Yes Bank’s growth.

The appointment has received approval from the Reserve Bank of India and will be for a three-year term, subject to shareholder approval.

Tonse brings more than 35 years of experience in banking, spanning treasury, retail and corporate banking, international operations, and asset management. Before joining Yes Bank, he served as Managing Director at SBI, where he oversaw the lender’s massive retail operations and managed one of the country’s largest retail banking portfolios.

Earlier in his career, Tonse also led SBI Mutual Fund as its Managing Director and CEO, during which the firm’s assets under management saw significant growth.

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Tonse’s appointment comes at a pivotal time for Yes Bank as it continues its turnaround following the crisis and restructuring phase that began in 2020. The bank has been focusing on strengthening governance, improving asset quality, and expanding its retail and corporate lending business.

The leadership change also follows a strategic shift in the bank’s ownership structure after Japan’s Sumitomo Mitsui Banking Corporation acquired a significant stake in Yes Bank, becoming its largest shareholder and signalling stronger international backing for the lender’s next phase of growth.

Welcoming the appointment, Yes Bank’s non-executive chairman Rama Subramaniam Gandhi said, "He expects Tonse’s extensive experience in banking and financial services to guide the institution into its next phase of growth and stability."

Industry analysts say Tonse’s public-sector banking background and strong operational experience could help the bank pursue stable expansion and improved risk management, as it seeks to rebuild investor confidence and strengthen its market position.