YES Bank appoints Vinay Tonse as MD & CEO for three years

Private lender YES Bank on Monday announced the appointment of Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer for a period of three years.

Tonse, who previously served as MD at State Bank of India, has taken over from Prashant Kumar, whose extended tenure ended on April 5.

“Tonse has taken charge as Managing Director & Chief Executive Officer of the bank with effect from April 6 on such terms and conditions, including remuneration, as approved by Reserve Bank of India and subject to the approval of the shareholders,” the bank said in a statement.

The leadership change comes at a time when Japan’s Sumitomo Mitsui Banking Corporation has emerged as the largest shareholder in the Mumbai-based lender, after acquiring about a 24 per cent stake last year.

A seasoned banker, Tonse brings over three decades of experience across treasury, retail and corporate banking, international operations, and asset management. He began his career with SBI in 1988 as a Probationary Officer and has since held several key roles across India and overseas.

During his tenure as MD at SBI, he oversaw the bank’s vast domestic network of nearly 23,000 branches, managing a workforce of over 2.3 lakh employees and business levels of Rs 76 lakh crore as of November 30, 2025.

Tonse is a commerce graduate from St. Joseph’s College of Commerce, Bengaluru, and holds a master’s degree in commerce from Bangalore University. His experience spans corporate credit, international banking, treasury operations, equity portfolio management, retail banking, training, and rural banking.

YES Bank’s loans and advances grew 10.7% Y-oY

YES Bank’s loans and advances grew 10.7% year-on-year to ₹2,72,454 crore as of March 31, 2026, up from ₹2,46,188 crore a year earlier.

Total deposits rose to ₹3,18,970 crore, marking a 12.1% increase year-on-year and a 9% rise on a sequential basis.

CASA deposits climbed 14.9% year-on-year to ₹1,11,960 crore, while the CASA ratio improved to 35.1% from 34.3% in the same period last year.

The bank’s credit-to-deposit ratio stood at 85.4% as of March 31, 2026, compared to 86.5% a year ago. Its liquidity coverage ratio was at 119% at the end of the period.

Mumbai-headquartered Yes Bank provides a wide range of banking products and digital services across retail, MSME, and corporate segments.

In the December quarter (Q3 FY26), the bank reported a 55.4% jump in standalone net profit to ₹952 crore, while total income rose 9.7% to ₹4,098 crore compared to the year-ago period.

Shares of Yes Bank declined 0.50% to close at ₹17.76 on the BSE.

(With PTI inputs)