Company Announcements

YBL/CS/2022-23/Int/021

October 07, 2022

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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