Yes Bank appoints Vinay Tonse as new CEO effective Feb. 3, 2026, following regulatory approval.

The Reserve Bank of India has approved Vinay Muralidhar Tonse as Yes Bank’s new Managing Director and CEO for a three-year term, effective February 3, 2026, pending shareholder approval. Tonse, formerly MD of retail operations at State Bank of India, will succeed Prashant Kumar, whose extended tenure ends in April. The appointment marks a key leadership transition for the Mumbai-based lender as it continues recovery efforts following a 2020 crisis, supported by a 24% stake from Japan’s Sumitomo Mitsui Banking Corporation. Yes Bank reported strong financial performance in late 2025, with a 55% year-on-year profit rise and stable asset quality.