The first Scottish outlet opened at the Marks & Spencer Gyle store in Edinburgh last month, with Glasgow's Argyle Street following yesterday.
If the roll-out goes as planned the bank should have in the region of 50 staff in Scotland.
Crawford Prentice, deputy chief executive of M&S Bank, said an Aberdeen branch would open later this month and he also hoped to have one at Braehead, near Glasgow, before the end of 2012.
He said: "We have a very aggressive roll-out.
"Aberdeen will open on the 18th of this month so it gives us a wide geographic spread.
"It is important our customers see us visibly in stores as quickly as possible.
"We already have an online and telephone business, which has been around for 27 years, so the banking business is an evolution for us."
Mr Prentice, who is originally from Glasgow, confirmed there was scope to have more locations in Scotland.
He said: "If you think of M&S retail, there are 700 stores in the UK and we have selected 50 at this stage, in terms of large stores where there is a significant customer base using them on a regular basis.
"It makes sense to have a local bank branch there so we can deepen the relationships we have with our customers.
"People have to bank and they love to shop.
"Our ability is to combine those two things together."
Mr Prentice said there had been more than 61,000 applications for the 200 jobs the bank is creating through its roll-out this year.
A further 300 will be recruited across its branches and the Chester head office by the end of 2013.
He said: "The appeal from an employee perspective to work for M&S Bank is quite phenomenal. It allows us to select the best possible people."
Mr Prentice confirmed M&S Bank will focus on attracting the 12 million people who are regular shoppers in its retail stores and has no plans to go into business lending.
It charges £15 or £20 a month for its current account products but provides a range of add-ons, including M&S vouchers and insurance.
Mr Prentice said the retailer's premium club, where regular customers pay £15 in exchange for incentives, has more than 150,000 members who redeem more than 90% of the offers they were given.
The bank, a joint venture with HSBC, intends to launch a mortgage range next year. Its branches were designed after consultation with 4000 customers and will stay open for the same hours as retail stores.
Bank customers who cannot be seen straight away get a pager, which allows them to browse the store until a member of staff is available.
Contextual targeting label: