Yes Bank appoints Sumit Bali as India head of retail assets and debt management

Yes Bank Ltd. appointed Sumit Bali as the new India head of retail assets and debt management, according to a Bombay Stock Exchange (BSE) filing on Monday, August 26.

The appointment is effective today, as of August 26, 2024, according to company's regulatory filing.

“We are pleased to welcome Mr. Sumit Bali to Yes Bank. His extensive experience and deep understanding of the retail assets, rural assets, and debt management will be instrumental in driving our strategic goals. As we continue to focus on sustainable growth and building a robust assets business, I am confident that Mr. Bali’s leadership will be pivotal in achieving our objectives and reinforcing our position as the Bank of Choice across all customer segments. I wish him every success in his new role at Yes Bank,” said Rajan Pental, executive director at Yes Bank, in the press statement.

Sumit Bali has over three decades of experience in the retail lending and collections segment. Bali has been part of developing a strong community of Retail Assets professionals across the BFSI ecosystem and has previously worked with Axis Bank, India Infoline Group and Kotak Mahindra Bank, according to the company's BSE filing.

“Sumit will be responsible for leading the consumer assets business for the bank through our distribution network. He will also mentor the collections and co-lending units which are critical to the success of the retail assets businesses,” said the private bank in the regulatory filing.

The focus of Yes Bank's appointment of Bali as the new India head of retail assets and debt management is on growth and increasing profitability. The private bank disclosed Bali's responsibilities of fueling the growth and profitability in the retail asset, rural assets, and debt management business segment, said the company in the press release.

Yes Bank shares closed 1.27 per cent lower at ₹24.08 after Monday's trading session, compared to ₹24.39 at Friday's market close. The company filed the new appointment details after the market operating hours.