January 24, 2019 / 9:49 AM / 2 months ago

India's Yes Bank gets cbank nod for Ravneet Singh Gill to be CEO

Jan 24 (Reuters) - India’s Yes Bank said on Thursday it got the central bank’s approval to name Ravneet Singh Gill as its new chief executive officer.

The private sector bank also posted a 7 percent fall in third-quarter net profit as it set aside higher provisions.

Net profit fell to 10.02 billion rupees ($140.73 million) in the three months to Dec. 31 from 10.77 billion rupees a year earlier. That missed analysts’ average estimate of 10.60 billion rupees, according to I/B/E/S data from Refinitiv. ($1 = 71.1990 Indian rupees)

Reporting by Chris Thomas in Bengaluru; Editing by Muralikumar Anantharaman

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