Yes Bank to recruit 1,000 by December

Private sector lender Yes Bank today said it plans to recruit over 1,000 personnel, including 500 specialists, by year-end to drive expansion in key areas.

"Somewhere between now and December, we plan to add nearly 1,000 managerial staff in some of the major divisions," Yes Bank Chief Operating Officer Alok Rastogi told PTI here today.

Of the 1,000 personnel proposed to be added by year-end, 500 would be at managerial level and the remaining would be in retail service and sales, he said.

The hiring is in line with the bank's growth plan for the next five years, he said.

"Currently, the bank has a total employee-strength of around 3,000. This is likely to go up to nearly 4,000 by December 2010," he said.

The bank has identified six key industries as future growth drivers.

"We want to evolve as a bank for future industries of India and our focus is on high-growth industries like SMEs, agri-business, infrastructure, energy, healthcare and communications," Rastogi said.

There would be a strong thrust on Small and Medium Enterprises (SMEs) with 40 out of 137 branches focusing on this segment, he said.

At present, 25 per cent of the bank's total advances go to agri business, Rastogi said.

Advances to infrastructure are at about 18 per cent and are likely to go up.

"We should see that (infrastructure) at a minimum of 20-22 per cent in the future," he said.

The bank also has plans to set up 3,000 ATMs in Tier-II and Tier-III cities over the next five-years.

"We are planning to set up 3,000 ATMs in the next five years, which will expand our footprint and help us build a strong customer base pan-India," he said.