Yes Bank on Thursday announced an ambitious expansion plan for the next five years. The private sector bank has set a target to achieve a balance sheet of Rs 1,50,000 crore and a pan-India branch network of 750 by 2015. The bank’s balance sheet stood at Rs 36,300 crore and branch network at 150 at the end of 31 March, 2010.
The bank plans to increase its staff strength to 12,000 in next five years from the current 3,000.
“As a part of the bank’s strategy, corporate and institutional banking will continue to be a sizeable business and a key driver,” said Rana Kapoor, managing director and chief executive officer, Yes Bank.
“However, the integrated branch banking and commercial business, including emerging corporates, small and medium scale enterprises and retail customers, will be the key growth drivers.”
The bank is also planning to increase the number of Automated Teller Machines to 3000 from the current 200 to serve retail customers better.
“The bank will continue its focus on key sunrise sectors such as food, healthcare and infrastructure engineering,” Kapoor said.