Former Axis Bank’s retail lending executive Sumit Bali is set to join Yes Bank as the private sector lender’s retail head later this month. Sources aware of the development said that Bali will be joining the bank and will be reporting to Rajan Pental, Yes Bank’s executive director.

He will be replacing Lavesh Sardana, who was the country head-retail assets and debt management at Yes.

Bali had on June 13 this year had stepped down from his position of group executive of retail lending at Axis Bank after a stint of four years.

Bali, in his resignation letter dated June 12 said, “the time is right to embark on a new phase of career outside the bank." He had taken charge of the retail assets at the peak of the first Covid wave in 2020.

Bali has almost three decades of experience in retail banking, and worked at Kotak Mahindra Bank before joining Axis Bank, where he worked in multiple roles.

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First published: Aug 16, 2024 12:28 pm