Yes Bank, a private sector bank, has announced expansion plans and initiatives to strengthen its presence in Bengaluru. The bank aims to enhance its foothold in the region by expanding its branch network, introducing digital banking solutions, and engaging with the local community, a senior executive of the bank said while addressing media on Wednesday.

As of December 2023, Yes Bank has experienced substantial year-over-year growth, serving around 4.98 lakh customers and over 1.45 lakh credit card customers in Bengaluru, said Prashant Kumar, MD and CEO, Yes Bank. This expansion of the customer base reflects a notable 29 per cent increase in customer acquisition. “Embracing Bengaluru’s start-up ecosystem, Yes Bank supports emerging entrepreneurs and technology-driven ventures through partnerships with fintech companies and collaborations with incubators, accelerators, and industry associations,” he added.

The company currently has 45 branches in Bangalore.

Kumar said, Yes Bank has shown strong performance in the Bangalore market, with CASA balances reaching ₹6,616 crore by December 2023. This constitutes a substantial share of the bank’s overall CASA deposits. The bank’s initiatives include enhancing the transaction banking experience and facilitating the opening of over 92,000 new-to-bank CASA accounts in Bengaluru.

Yes Bank, is a full-service commercial bank headquartered in Mumbai, offering a wide array of products, services, and digital solutions, catering to retail, MSME, and corporate clients. The bank operates its brokerage business through Yes Securities, a wholly-owned subsidiary of the bank. The Bank has a pan-India presence including an international banking unit (IBU) at GIFT City, and a representative office in Abu Dhabi.