Vinay Tonse Joins YES BANK as Managing Director & CEO
YES BANK has officially declared that Vinay Muralidhar Tonse will be taking on the role of Managing Director & Chief Executive Officer-Designate after receiving authorization from the Reserve Bank of India.
Vinay's appointment is for a duration of three years, with him stepping into the position of MD & CEO starting on April 6, 2026, taking over from the current holder of the position, Prashant Kumar.
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With a robust background in banking spanning more than 35 years, Vinay has extensive experience in various leadership positions in areas such as treasury, retail banking, corporate banking, international operations, and asset management.
He completed his Commerce degree at St. Joseph’s College of Commerce Bengaluru, and furthered his education by earning a Master’s degree in Commerce from Bangalore University.
Vinay commenced his professional journey at the esteemed financial institution, State Bank of India. In his most recent position as Managing Director, he oversaw the bank's retail operations and effectively managed a substantial retail book valued at approximately USD 800 billion, making it the largest in the nation.
Throughout his time in this role, Vinay was instrumental in enhancing SBI's customer base and fortifying its financial position. He possesses considerable global expertise, including a two-year stint in Singapore and four years overseeing SBI's overseas operations in Osaka, Japan.
Previously, he held the position of Managing Director & CEO at SBI Mutual Fund, where he successfully increased assets under management from Rs.4.32 trillion to Rs.7.32 trillion between August 2020 and December 2022.
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Vinay takes over from Prashant Kumar, who held the position of Managing Director & CEO at YES BANK from March 2020. Kumar played a pivotal role in steadying and enhancing the bank's operations during a crucial period.
Welcoming the appointment, Rama Subramaniam Gandhi, Non-Executive Chairman of YES BANK says, “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.”
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Rajeev Kannan, Non-Executive Director of YES BANK and Senior Executive at Sumitomo Mitsui Banking Corporation, adds, “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 prioritize the expansion of its retail and corporate banking divisions, with an emphasis on enhancing its branch network and reinforcing governance, risk management, and customer-focused growth, as it progresses into the next stage of its evolution.