In a major bid to expand its pan-India footprint, private sector Yes Bank, on Tuesday said it plans to open 100 new branches in the next one year.
The bank has received licences to open 91 new branches this month and plans to scale-up its branch network to 250 within the next one year, it said in a statement here.
This is in line with the bank’s focus on building its branch banking businesses through an integrated SME, MSME, retail and liabilities-driven proposition besides the continued focus on its corporate businesses.
“I truly believe that this incremental branch expansion is a significant organisational imperative for the bank’s next phase of growth Version 2.0 that will further propel retail and SME banking initiatives,” Managing Director and CEO Rana Kapoor said.
“Yes Bank will steadily enter into the retail banking segments, by offering a wide suite of competitive products while augmenting the pan-India branch presence,” he said.
Yes Bank recently announced the launch of Version 2.0 with the objective of achieving a balancesheet size of Rs 1,50,000-crore, a pan-India branch network of 750 with a human capital base of 12,000 by 2015.
