New Delhi, April 6 Private sector Yes Bank announced on Monday that Vinay Muralidhar Tonse has taken over as the MD and CEO of the bank for a period of three years.
Tonse, a former MD of State Bank of India, replaced Prashant Kumar, who completed his extended term on April 5.
Tonse has taken over as Managing Director & Chief Executive Officer of the bank, effective April 6, under such terms and conditions, including remuneration, as approved by the Reserve Bank of India, and subject to the approval of the shareholders, Yes Bank said in a statement.
Last year, Japan's Sumitomo Mitsui Banking Corporation acquired approximately 24 per cent stake, making it the largest investor in the Mumbai-based lender.
Tonse is a seasoned banker with over three and a half decades of experience in treasury, retail banking, corporate banking, international operations, and asset management.
He holds a Commerce degree from St. Joseph’s College of Commerce, Bengaluru, and has a master’s degree in commerce from Bangalore University.
During his tenure as MD of SBI, he was responsible for the entire domestic network of the country's largest lender, consisting of nearly 23,000 branches with an employee strength of around 2,33,426 and a business level of Rs 76 lakh crore as of November 30, 2025.
He began his career at SBI in 1988 as a Probationary Officer. He has worked in various locations in India and abroad, heading various business functions.
He has extensive experience in managing various aspects of banking, including corporate credit, international banking, treasury operations, equity portfolio management, retail banking, training, and agricultural and rural banking.
