Yes Bank eyes acquisitions for business expansion
Yes Bank had first announced its 'Version 2.0' goal in April 2010, wherein it set a target of 2015 to achieve 750 branches, 3,000 ATMs, 12,000 employees, Rs 1,25,000 crore deposit base, Rs 1,00,000 crore of loan book and Rs 1,50,000 crore of balance sheet. However, it revised the numbers in April 2012 to 900 branches, 2,000 ATMs and 12,750 employees.
At the close of last fiscal ended March 31, 2012, the bank had over 5,600 employees, loan book of about Rs 38,000 crore and deposits of close to Rs 49,000 crore. The bank currently has more than 400 branches and well above 650 ATMs, as per the information available on its website.
Asked about the bank's expansion plans, Kapoor said: "As our branch network expands, retail lending products are being offered from the branches which include a complete suite of products (auto loans, gold loans, home loans and credit
"The objective is to offer these products from most of our retail branches as we go along, because our focus is to be customer centric and we want to maximise our share of our customers' wallets by catering to all the needs of our retail customers," he said, while adding that the bank is also offering retail lending products to most of its customers on a relationship basis in the top 125-150 branches.
In reply to a query about a possible entry of new players in banking space, Kapoor