YES Bank on expansion drive, targets 250 branches by 2010

YES Bank is set to expand its operation into retail broking and set up separate subsidiaries for various existing banking segments.

YES Bank is also looking for private equity investments to funds its expansion plans. Reports say that the retail broking business will be a separate entity, YES Securities. The online transaction channel will be called YES Direct.

The bank plans to set up 100 branches in the $90-billion Delhi-Mumbai Industrial Corridor and has written to the ministry of commerce and industry for this.

Currently, YES Bank has 54 operational branches in India. The bank has set a target of having a network of 250 branches by March 2010.