New Delhi: Eyeing growth of at least 40% in loans in the current financial year, Yes Bank on Friday said it would recruit 900 people, including 500 specialists, in the next nine months to drive expansion in six key segments.
“Somewhere between now and September we are adding at least 500 managerial staff,” Yes Bank managing director and CEO Rana Kapoor said.
“Overall we should hire about 900 people in the current fiscal. Right now we are 2,700; we want to get to 3,600 by March 2009,” he said, of which 500 are of managerial level and 400 will be in retail service and sales, he added.
The hiring is in line with the growth plan for the next six years, he said, adding that the bank is looking at year-on-year balance sheet growth of 40%.
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 agri-business, infrastructure, energy, health care and communications,” he said.
At present 25% of the total advances go to agri-business, he said, adding, “infrastructure is about 18% right now but we see that percentage going up. We should see that minimum 20-22% in the future.”