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Our Bureau

Pune , July 22

WITH about 30 branch licences approved by the Reserve Bank of India, Yes Bank, promoted by Mr Rana Kapoor and Mr Ashok Kapur, is all set to expand its branch network in the country.

The bank has identified the metros and growth cities as its target locations and the branches would be set up by March 2006, according to Mr Rana Kapoor, Managing Director and CEO.

Speaking to newspersons, he said that the bank would be opening up its first branch in Pune in 45-60 days. It would house a knowledge centre for the auto and IT segments.

Two more branches would be opened up in Mumbai and one each in Nashik and Nagpur soon.

The bank has identified industry segments, agri business, textiles, life services, selective manufacturing, infrastructure, renewable energy, telecom and IT as its focus areas "where it would evolve more."

The bank has already clocked revenue of Rs 1,750 crore so far and is targeting Rs 4,500 crore by March 2006. Of this, about Rs 3,300 crore is expected to come in from loan totals.

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