Vinay Tonse to Take Over as MD & CEO of YES Bank from April 6
Tonse has been appointed for a three-year term and brings more than three and a half decades of banking experience across treasury, retail banking, corporate banking, international operations and asset management.
Former SBI managing director appointed for three-year term following RBI approval
Mumbai: YES Bank has appointed Vinay Muralidhar Tonse as Managing Director and Chief Executive Officer-designate, following approval from the Reserve Bank of India. He will take over as MD and CEO on April 6, 2026, succeeding Prashant Kumar.
Tonse has been appointed for a three-year term and brings more than three and a half decades of banking experience across treasury, retail banking, corporate banking, international operations and asset management.
Most recently, Tonse served as managing director at State Bank of India, where he led the bank’s retail operations and oversaw a retail portfolio of around $800 billion in deposits and advances, the largest in the country.
He previously served as managing director and 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 also brings international experience, having worked in Singapore and led SBI’s overseas operations in Osaka, Japan, giving him exposure to global financial markets and cross-border banking.
YES Bank’s non-executive chairman Rama Subramaniam Gandhi said Tonse’s extensive experience in banking and financial services will help guide the bank through its next phase of growth.
The bank also acknowledged the contributions of outgoing CEO Prashant Kumar, who has led YES Bank since March 2020 and played a key role in stabilizing the institution during a critical phase in its history.
Tonse said he looks forward to strengthening the institution and working with the board and employees to create long-term value for stakeholders.
Headquartered in Mumbai, YES Bank operates over 1,300 branches, more than 1,350 ATMs and over 200 business correspondent banking outlets across 300 districts in India. The bank also operates an international banking unit at GIFT City and maintains a representative office in Abu Dhabi.
