Yes Bank to raise branch network to 250 by June 2011

In a bid to expand its pan-India footprint private lender Yes Bank today said that it plans to open 100 new branches in a 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," its Managing Director and CEO Rana Kapoor said.

"Yes Bank will steadily enter into the retail banking segment 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 balance-sheet size of Rs 1,50,000 crore and a pan-India branch network of 750 with a human capital base of 12,000 by 2015.