Varun Tuli to head Yes Bank's biz banking ops

Mumbai, January 8, 2007: YES BANK, India's new age private sector Bank, has today announced the appointment of Varun Tuli as President "� Business Banking.

Varun, in this top leadership position will report directly to the Managing Director and CEO Rana Kapoor, and will be responsible for planning Business and managing the Business Banking (Small and Medium Enterprises, and Business Liabilities) activities of the Bank.

Varun brings with him over 20 years of experience in Corporate & Investment Banking with international Banks and Financial Organisations across different geographical locations particularly India, Singapore and Hong Kong. Prior to joining YES BANK, Varun was the Executive Director and Country Head at Avigo Capital Partners, where he managed the deal sourcing and execution process for The Avigo SME Fund.

Prior to joining Avigo, Varun was the Executive Director at Strategic Capital Corporation, an independent corporate finance and investment organisation. He was the Original Promoter Director and during his entrepreneurial tenure with the organization, Varun was instrumental in building several business relationships across the country.

Previously, he was the Vice-President at Lehman Brothers Asia in Singapore and Vice-President and Regional Business Manager at Bank of America, leading the Global NRI business based in Singapore and India. Varun set up a first of its kind USD 150 million fund which primarily consisted of investments by Non-Resident Indians, while at Lehman Brothers.

He held positions of increasing responsibility in Bank of America between 1989 and 1995, and was awarded The Chairman's Eagle Pin award, the highest recognition in Bank of America, for successfully penetrating into the largest and most profitable relationship in India. Varun also worked with American Express Bank in India, prior to his Bank of America assignment.

About YES BANK:

YES BANK, India's new age private sector Bank, is the outcome of the professional commitment of its Promoters, Rana Kapoor and Ashok Kapur, to establish a high quality, customer centric, service driven, private Indian Bank catering to "Emerging India".

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. A key strength and differentiating feature of YES BANK is its knowledge driven approach to banking and an unprecedented customer experience for its retail and wealth management clients.

YES BANK is steadily building corporate and institutional banking, financial markets, investment banking, business and transactional banking, retail and private banking business lines across the country. The Bank's constant endeavour is to provide a delightful banking experience expressed with simplicity, empathy and totality.