In an exchange filing on Tuesday (February 3), Yes Bank said Tonse has been appointed for a three-year term from his date of joining, which is yet to be announced. The appointment will also be subject to approval from the bank’s shareholders.
Tonse was previously the managing director in charge of retail business and operations at State Bank of India, a role he held until November 30, 2025.
The lender added that its current MD and CEO, Prashant Kumar, is serving an extended term, which is scheduled to conclude in April this year. Taking into account Kumar’s preferences and the bank’s growth requirements, Yes Bank had approached the RBI for approval to appoint new leadership.
Yes Bank Q3 snapshot
The lender reported a 55% increase in its December quarter standalone net profit at Rs 952 crore compared to Rs 612 crore reported in the year ago period. The lender earned an interest income of Rs 7,543 crore in Q3FY26, down 3.7% versus Rs 7,829 crore in the corresponding period of the last financial year.
The company reported a net interest income (NII) of Rs 2,466 crore which ros 11% YoY while the net interest margin (NIM) stood at 2.6% for Q3FY26 versus 2.4% in Q3FY25 and 2.5% in Q2FY26.The profit after tax (PAT) increased by 45% on a quarter-on-quarter basis compared to Rs 654 crore in Q2FY26.
Yes Bank paid Rs 5,078 crore in interest which was also down 9% YoY versus Rs 5,606 crore in the year ago period while remaining flat on a sequential basis.
Yes Bank’s gross non-performing assets (NPAs) fell by 10 bps on a YoY and QoQ basis to 1.5% while net NPAs dropped by 20 bps YoY to 0.3% while remaining flat QoQ.
Yes Bank shares are down 7% in the last 1 month.
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