Veteran banker Prashant Kumar has been appointed the Managing Director & Chief Executive Officer of Yes Bank for a period of three years.
The Reserve Bank of India (RBI) on October 6 approved the appointment of Kumar with effect from today. The appointment will, however, be subject to the approval of shareholders.
Yes Bank has informed the exchanges that Prashant Kumar is not related to any other directors or key managerial personnel of the bank and he is not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority or regulator.
Prashant Kumar was appointed the Managing Director & Chief Executive Officer of YES Bank post the reconstruction in March 2020. According to a statement released by the bank, “under his leadership, the bank embarked on transformation journey to emerge as a re-energised, re-capitalized and recalibrated organization, while continuing to fulfill its unwavering commitment towards its customers and stakeholders. This has been one of the rare instances, where an Indian banking institution has been a real turnaround from the brink of collapse within an extremely short time frame of just one year”.
Before joining YES Bank, Kumar was the Deputy Managing Director & CFO of the State Bank of India. He served the bank in various capacities and diverse fields ranging from credit to human resources. He had joined the bank as a probationary officer in 1983 and during his 34 years of service with the bank, he has held various key assignments including deputy managing director (HR) & Corporate Development Officer, Dy Managing Director and Chief Operating Officer, Chief General Manager, Kolkata Circle, General Manager, Local Head Office Mumbai, DGM (Industrial relations) and faculty in Bank’s Apex Training Institute – State Bank Academy, Gurugram.He holds a degree in science and law from Delhi University.