Yes Bank to double its branch numbers in FY09

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Mumbai, Apr 9 (UNI) Yes Bank, a private sector bank, has targetted to increase its branches to 117 by the end of current fiscal year and to 150 by the end of 2010.

The bank has posted a double fold growth in the fiscal year 2008 and in order to increase its access to the customers, has planned to double the number of branches by the end of fiscal year 2009, bank's Managing Director Rana Kapoor told mediapersons on the sidelines of the announcement of annual results here today.

Presently, the bank has 67 operational branches across 57 locations in the country and it has already received licenses to open 57 new branches and 125 offsite ATMs, Mr Kapoor added.

When asked about the bank's exposure to the derivative market, he said the bank does not have derivative exposure to the SME segment. 70 per cent of the bank's MTM exposure is to large corporates, with the remaining to mid-sized firms. Total provisions and contingencies stand at Rs 22 crore, Mr Kapoor informed.

UNI AR/PP RN VKG2048

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