Mumbai: Yes Bank has announced that Vinay Muralidhar Tonse has joined as its Managing Director & Chief Executive Officer-Designate, following approval from the Reserve Bank of India. Tonse has been appointed for a three-year term and will assume the role of MD & CEO from April 6, 2026, succeeding the incumbent Prashant Kumar.
A seasoned banker with over three and a half decades of experience, Tonse has held leadership roles across treasury, retail banking, corporate banking, international operations and asset management. He holds a Commerce degree from St. Joseph’s College of Commerce Bengaluru and a Master’s degree in Commerce from Bangalore University.
Tonse began his career at State Bank of India, where he most recently served as Managing Director, leading the bank’s retail operations and managing a retail book (deposits and advances) of around USD 800 billion, the largest in the country. During his tenure, he played a key role in strengthening SBI’s customer franchise and balance sheet.
He also brings significant international experience, having worked in Singapore for two years and leading SBI’s overseas operations in Osaka, Japan for four years. Earlier, he served as Managing Director & CEO of SBI Mutual Fund, where assets under management grew from ₹4.32 trillion to ₹7.32 trillion between August 2020 and December 2022 under his leadership.
Tonse succeeds Prashant Kumar, who has served as Managing Director & CEO of YES BANK since March 2020, playing a key role in stabilizing and strengthening the bank during a critical phase.
Welcoming the appointment, 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 at Sumitomo Mitsui Banking Corporation, added, “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.”
YES BANK will continue to focus on expanding its retail and corporate banking franchises, strengthening its branch network and reinforcing governance, risk management and customer-centric growth, as it enters its next phase of development.
