REG - YES Bank Limited - Appointment of Mr. Prashant Kumar as the MD & CEO

Yes BankAnnouncement

07/10/2022 15:15

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RNS Number : 2258C  YES Bank Limited  07 October 2022

YBL/CS/2022-23/Int/021

 

October 07, 2022

 

 India International Exchange IFSC Limited       The Singapore Exchange Securities Trading Limited

 101 First Floor, Hiranandani Signature Tower,   2, Shenton Way #19-00

 GIFT City IFSC - 382355, Gujarat, India         SGX Centre 1, Singapore 068804

 The London Stock Exchange

 10, Patemoster Square,

 London, EC4M 7LS

 

Dear Sirs,

 

Sub.: Appointment of Mr. Prashant Kumar as the Managing Director & Chief
Executive Officer of the Bank for a period of 3 years

 

This is further to our earlier communication in relation to Outcome of Board
Meeting dated July 15, 2022 wherein the alternate Board had recommended to the
Reserve Bank of India ("RBI") for its approval, the appointment of Mr.
Prashant Kumar as Managing Director & Chief Executive Officer ("MD
&CEO") of the Bank for a period of three (3) years.

 

We would like to inform that RBI vide its letter dated October 06, 2022 has
approved the appointment of Mr. Prashant Kumar (DIN 07562475) as the MD
&CEO of the Bank under Section 35B of the Banking Regulation Act, 1949 for
a period of three (3) years effective from October 06, 2022, subject to
approval of shareholders.

 

The brief profile of Mr. Prashant Kumar is given in Annexure 1.

 

Further, please note that Mr. 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/regulator.

 

The above is for your information and dissemination to all concerned.

 

Thanking you,

 

Yours faithfully,

For YES BANK LIMITED

Shivanand R. Shettigar

Company Secretary

Annexure 1

 

Brief Profile of Mr. Prashant Kumar

 

Mr. Prashant Kumar was appointed as Managing Director & Chief Executive
Officer of YES Bank post the Reconstruction in March 2020. Under his
leadership, the Bank embarked on transformation journey to emerge as a
re-energized, 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.

 

Prior to joining YES Bank, Mr. Kumar was Deputy Managing Director & CFO of
SBI, India's largest Bank. He served the Bank in various capacities and has a
rich experience in diverse fields ranging from credit to human resources. He
joined the Bank as Probationary Officer in 1983 and during his 34 years of
service with the Bank, he has held various key assignments including Dy.
Managing Director (HR) & Corporate Development Officer, Dy. Managing
Director & 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 degree in Science and a law from Delhi University.

 

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