Private sector lender, YES Bank has declared that it aims to open up 100 new branches in the country in upcoming one year. The youngest bank of the country is garnering itself for a pan India presence.

The bank has received approval for setting up 91 new branches in the country next month and aims at taking the number to 250 in the next one year.

"I truly believe that this incremental branch expansion is a significant organisational imperative for the bank's next phase of growth Version 2.0 that will further propel retail and SME banking initiatives," its Managing Director & CEO, Rana Kapoor, said.

The bank is planning heavy expansion. It aims to foray into retail segment shortly. These ambitious plans seem to be a part of the bank's target of being No. 4 in 5 years.

"Yes Bank will steadily enter into the retail banking segments, by offering a wide suite of competitive products while augmenting the pan-India branch presence," Kapoor said.