Published On:February 27 2015
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Yes Bank to set up 970 more branches in three years.
Yes Bank is going to place greater importance on retail business and is planning to add 970 more branches in the next three years, taking the number to 1,600 from the present 630, according to R. Ravichander, the group president and head of business development (south).
In an interview recently, he said ,'As part of our vision document we wanted to achieve a balance sheet of Rs.1.50 lakh crore, 750 branches and 12,000 employees by 2015. As of now, we have opened 630 branches with a business of Rs. 1.25 lakh crore and 11,000 employees.'
He was speaking after the second branch in the city was inaugurated at Dwarakanagar by State HRD Minister G. Srinivasa Rao.
He said the bank was performing creditably. The initial focus was on corporate business. He said the bank would focus on sunrise sectors such as infrastructure, energy, education, media and entertainment and pharmaceuticals.
He said, “We want to become the best quality bank in India with the spirit of entrepreneurship.”
In Andhra Pradesh, the bank has at present seven branches and two more will soon be set up at Rajahmundry and Nellore. In three years, the number will rise to 25.