Yes Bank said that the Reserve Bank of India approved reappointing Prashant Kumar as the managing director (MD) & chief executive officer (CEO) of the bank for three years.
The private lender on Thursday said that it received an approval from the RBI for the re-appointment of Prashant Kumar as the MD & CEO, for another three years starting 6 October 2022. The re-appointment is subject to the approval of shareholders.Prashant Kumar was appointed as managing director & chief executive officer of Yes Bank post the reconstruction in March 2020. He joined the SBI as probationary officer in 1983 and during his 34 years of service with the bank, he has held various key assignments.
Prashant Kumar is not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority/regulator, said the bank.
The bank reported 50.2% jump in standalone net profit to Rs 310.63 crore on 9.7% increase in total income to Rs 5,916.28 crore in Q1 FY23 over Q1 FY22.
Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to retail, MSME as well as corporate clients.
The scrip rose 0.61% to currently trade at Rs 16.60 on the BSE.
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