Yes Bank Ltd. on Friday announced the appointment of Vinay Muralidhar Tonse as its managing director and chief executive for a period of three years, as per an exchange filing.
Tonse will take act as the designate MD & CEO of the Bank starting March 12, 2026 till April 5, 2026. He will formally take charge as MD & CEO on April 6, 2026.
"The Board of Directors of the Bank, pursuant to the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Vinay Muralidhar Tonse as MD & CEO (Designate) of the Bank, effective from March 12, 2026 till the day preceding he formally takes charge as MD & CEO of the Bank i.e. from March 12, 2026 to April 05, 2026 (both days inclusive)," the filing stated.
Who Is Vinay Tonse?
Vinay M. Tonse served as Managing Director (Retail Business and Operations) at SBI from November 2023 to November 2025, managing nearly 23,000 branches, 233,426 employees, and Rs. 76 lakh crore in business.
A 1988-batch Probationary Officer with a B.Com and M.Com from Bangalore, his career spans international and domestic roles in corporate credit, treasury, and retail banking. His previous leadership positions include MD & CEO of SBI Mutual Fund (2020–2022) and Chief General Manager of SBI's Chennai Circle (2018–2020).
Yes Bank Q3 Performance
Yes Bank reported a strong performance in the December quarter, with standalone net profit rising 55.4% year-on-year to Rs 951.62 crore, compared with Rs 612.27 crore in the year-ago period.
Net interest income increased 11% YoY to Rs 2,466 crore from Rs 2,224 crore, supported by stable core operations and improvement in margins. Operating profit for the quarter rose 14.3% yearly to Rs 1,234 crore.
Asset quality remained steady. Gross NPA declined to 1.5%, improving from 1.6% in the previous quarter, while net NPA stayed flat sequentially at 0.3%. Provisions fell sharply, declining 91.5% annually to Rs 21.9 crore from Rs 259 crore a year earlier, aiding profitability.
ALSO READ: Yes Bank Q3 Results: Profit Jumps 55% On Lower Provisions
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