Yes Bank shares surged almost 11 percent on Thursday afternoon as the private lender announced Ravneet Gill as its new managing director and chief executive officer.

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Gill is currently CEO of Deutsche Bank India and his term at Yes Bank will start from March 1, 2019.

The stock had earlier touched an intra-day low of Rs 189.10, lower by 4.16 percent.

Yes Bank shares quoted at Rs 218.20 on the NSE, higher by 11 percent at 3.15 pm. As many as 7,57,06,495 shares changed hands on the NSE.

The bank on Thursday reported a net profit of Rs 1,001 crore for the third quarter ended December 2018.

The net profit of the company stood at Rs 1,076.87 crore in the corresponding quarter a year ago.

First Published:Jan 24, 2019 3:23 PM IST