YES Bank, India's fourth largest private sector bank likely to increase its branch network by around 120 to 150 in the South by year 2015. This is a sub-target set by the Version 2.0 growth mode that the bank has embarked on since year 2010.
As a part of Version 2.0 bank has been pushing its retail business this year, rather than seek to negotiate a ‘gradient' in terms of achieving incremental targets, it has been bracing itself for a ‘vertical climb' and accomplished till date.
The bank also expects to expand its CASA (current accounts and savings account) from the 17-20% range to 30% by 2015. It was the first off the block to raise the savings bank rate to 6% within an hour's time of the deregulation announced by the Reserve Bank and currently it has raised the rate to 7 per cent, and is a market leader.
