Yes Bank to open 100 new branches

Yes Bank has confirmed it plans to open 100 new
outlets in the next year, expanding its branch network to around
250 units.

“I truly believe that this incremental branch
expansion is a significant organisational imperative for the bank’s
next phase of growth..[it] 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 added.

Yes Bank has targeted a balance sheet of INR1.5tr
($32 billion) and a branch network of around 750 units by 2015.

The focus for the bank’s growth in the medium term
is on raising retail deposits: it plans to increase its current
account and savings account (CASA) ratio from around 9% to 20% by
2012 with a longer term target of 35% by 2015.

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