Yes Bank , the private sector lender would be opening 750 branches in the country in the upcoming five years, a senior official of the bank said.
The bank currently has a branch network of 150. The bank has aims to surge retail lending. It plans to roll out credit cards by the end of this fiscal.
Rana Kapoor, MD of the bank said that the bank wants to increase its workforce to 12,000 by 2015 as a mode to increase its retail presence in the country.
The current headcount of the bank is 3,030 which has chances of reaching 4,500 by the end of this financial year.
"We are looking at a compounded annual growth rate of 35 percent for the bank in the next five years," Kapoor said.
The proposed loan book of the bank is expected to reach a size of Rs. 1 trillion in the next five years. The current loan book of the bank amounts to Rs. 221.93 billion.
"We propose to raise share of branch banking in loan book to 30 percent in the next five years, from 5 percent now," he added.