Yes Bank spurts on buzz Deutsche Bank's Ravneet Singh Gill in race for CEO post

Yes Bank rose 4.09% to Rs 203.40 at 13:39 IST on BSE on reports Deutsche Bank's India CEO Ravneet Singh Gill is the frontrunner in a race for the chief executive officer's post at Yes Bank.

Meanwhile, the S&P BSE Sensex was up 362.75 points, or 1.01% to 36,216.31.

On the BSE, 51.01 lakh shares were traded in the counter so far compared with average daily volumes of 40.94 lakh shares in the past two weeks. The stock had hit a high of Rs 205 and a low of Rs 196.05 so far during the day. The stock hit a 52-week high of Rs 404 on 20 August 2018. The stock hit a 52-week low of Rs 147 on 29 November 2018.

According to media reports, Ravneet Singh Gill and Yes Bank CFO Rajat Monga were the two recommended by the board of the bank for the position to the Reserve Bank of India (RBI) last week. Yes Bank has been on the hunt for a new CEO since founder Rana Kapoor was denied another three-year term in September last year by the RBI.

Yes Bank on Saturday, 12 January 2019, announced the appointment of Mr. Brahm Dutt as non-executive part-time chairman of the board. The Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Mr. Brahm Dutt's outstanding credentials and experience, has approved his appointment as part-time chairman of Yes Bank's board up till 4 July 2020 vide its letter dated 11 January 2019.

Brahm Dutt has been on the board of Yes Bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years and is currently also the chair of the nomination & remuneration committee.

Yes Bank's net profit fell 3.79% to Rs 964.70 crore on 43.91% rise in total income to Rs 8704.68 crore in Q2 September 2018 over Q2 September 2017.

Yes Bank is India's fourth largest private sector bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in Mumbai.

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