YES Bank to expand network in South

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.