The strategic management group consists of 4 members. Yes Bank was incorporated in 2003 and started financial operations in 2004 in Mumbai as a private sector bank promoted by Ranakapoor and Ashok Kapur with assistance from RaboBank. The bank went public in 2005 with its IPO oversubscribed 30 times. The bank has grown from 2 branches in 2005 to over 250 branches and ATMs across India in 2011 through its strategy of technology leadership, specialized banking services, and treating human resources as strategic assets.