India’s private sector lender Yes Bank is planning to expand its presence in the country by opening 970 branches during the next three years.
With the addition of the new branches, the bank’s total number of branches across the country will rise to 1,600.
The bank has also recently opened its new branch at Dwarakanagar in Visakhapatnam, Andhra Pradesh, which marks as the bank’s second branch in the city.
Yes Bank group president and head of business development in South India Ravichander said the bank is also planning to open four or five more branches in Vizag.
He added that the bank aims to focus on the retail segment in future.
"In Andhra Pradesh, we have seven branches and we will add two more – one at Rajahmundry and the other at Nellore – very soon. In the next three years, the number will go up to 25 in the State," he added.
The bank, which currently employs 11,000 staff, has 630 branches with a total business of INR1.25trn.