Yes Bank has announced the appointment of Vinay Muralidhar Tonse as its managing director and chief executive officer-designate, following approval from the Reserve Bank of India. 

Tonse will take over as MD and CEO from incumbent Prashant Kumar on 6 April 2026, for a term of three years.

He most recently served as managing director, State Bank of India. 

Tonse will succeed Kumar, who has served as managing director and CEO, Yes Bank since March 2020 and joined the company during the same time. 

Rama Subramaniam Gandhi, non-executive chairman, 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 and remuneration committee and customer service committee, 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 Tonse’s  appointment, recognising his exemplary leadership track record with strong governance and  ability to drive the organisation’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.” 

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, Prashant Kumar, whose leadership has played a vital role in reinforcing the  Bank’s foundation.”