Vinay Muralidhar Tonse has joined YES BANK as Managing Director and Chief Executive Officer-designate, following approval from the Reserve Bank of India (RBI). He has been appointed for a three-year term and will take over as MD & CEO on April 6, 2026, succeeding Prashant Kumar.
Tonse brings more than 35 years of experience in banking, spanning treasury, retail banking, corporate banking, international operations and asset management. He most recently served as Managing Director at State Bank of India, where he led the bank’s retail operations and managed a retail book (deposits and advances) of around USD 800 billion.
Earlier, Tonse 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.
He also brings international banking 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.
Tonse is a Commerce graduate from St. Joseph’s College of Commerce, Bengaluru, and holds a Master’s degree in Commerce from Bangalore University.
Beyond his professional career, Tonse has been active in sports. He played cricket at the college and club levels and represented Karnataka in archery at the National Championships. According to the company, he credits these experiences with shaping his leadership style, emphasising teamwork, discipline and focus.
Tonse succeeds Prashant Kumar, who has served as Managing Director and CEO of YES BANK since March 2020 and played a key role in stabilising the bank during a challenging phase in its operations.
YES BANK acknowledged Kumar’s contributions in strengthening governance and helping build a foundation for the bank’s next phase of growth.
Welcoming Mr. Tonse, Rama Subramaniam Gandhi, Non-Executive Chairman of 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.”
Ms. 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.”
Commenting on the appointment, Mr. 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.”
On his appointment, Mr. Vinay Tonse expressed, “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 stated that it will continue to focus on expanding its retail and corporate banking businesses, strengthening its branch network and maintaining emphasis on governance, risk management and customer-focused growth.
