Yes Bank to launch credit card by March 2011

Wednesday, April 28, 2010
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Mumbai: With an aim to expand in the retail segment, Yes Bank has planned to launch its credit cards by the end of the financial year 2010-11. The bank is also planning to enter into home and car loan segments by March 2012. Talking to Rupee Times, Rana Kapoor, Founder, Managing Director and CEO, Yes Bank said, "We are planning to expand our reach in the current financial year by launching the different products." Currently, the bank has 150 branches across 26 states of the country. It has plans to add 100 more branches to its kitty this fiscal. "We will take our branch count to 250 by end of March 2011," said Kapoor. In the financial year ended March 31, 2010, the company posted a net profit growth of 75 percent. The net interest margin of the bank has shown a marginal increase to 3.2 percent for the fourth quarter of the fiscal from three percent in the same period last year. The bank has a retail
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