Indian private sector lender Yes
Bank has announced plans to broaden its retail banking product and
service offerings to grab a larger share of the retail market.
The bank said it will be focusing on
plans to double its branch network to 250 branches by June 2011,
and 750 branches by March 2015.
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Targets to set up an extensive ATM
network – 1,200 ATMs by March 2012 and 3,000 ATMs by March 2015 –
are already underway following its memorandum of understanding with
merchant processor First Data for an “innovative ATM deployment
programme” (see RBI 616).
The bank plans to offer auto, home
and education loans, with the latter two products to launch in 36
branches by September 2010.
Yes Bank currently primarily
operates in mid-corporate and large corporate segments and has only
a negligible retail share.
