Yes Bank Ltd. has appointed Sumit Bali as the new Head of Retail Sales in India assets and debt management, according to a filing with the Bombay Stock Exchange (BSE) on Monday, August 26.
He appointment takes effect today, starting August 26, 2024, according to the company’s regulatory filing.
“We are pleased to welcome Mr. Sumit Bali to Yes Bank. His extensive experience and deep understanding of retail assets, rural assets and debt management will be instrumental driving Our strategic objectives. As we continue to focus on sustainable growth and building a strong asset business, I am confident that Mr. Bali’s leadership will be instrumental in achieving our objectives and reinforcing our position as the Bank of choice across all customer segments. I wish him much success in his new role at Yes Bank“Yes Bank CEO Rajan Pental said in the press release.
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 asset professionals across the BFSI ecosystem and has previously worked with Axis Bank, India Infoline Group and Kotak Mahindra Bank, according to the company’s filing with the BSE.
“Sumit will be responsible for leading the consumer asset business for the bank through our distribution grid“He will also mentor the collections and lending units, which are critical to the success of the retail asset business,” the private bank said in the regulatory filing.
Yes Bank’s appointment of Bali as the new head of retail assets and debt management in India focuses on growth and increase profitability. The private bank revealed Bali’s responsibilities to drive growth and profitability in the retail asset, rural asset and debt management business segment, the company said in the press release.
Yes Bank shares closed 1.27 percent lower in ₹24.08 after Monday’s trading session, compared to ₹24:39 at the close of trading on Friday. The company presented the details of the new appointment after market hours.
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