MUMBAI, 12th October, 2015: YES BANK, India’s 5th largest private sector Bank, has received approval from the Reserve Bank of India to sponsor a Mutual Fund and to setup an Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Companies will be set up as wholly owned subsidiaries of YES Bank Limited.
YES BANKwill now apply to SEBI to seek necessary approvals.
The Asset Management Company (AMC) will channelize the savings of retail and institutional investors in equity and debt capital markets. This will complement YES BANK’s retail liabilities strategy, and also allow the AMC to leverage the bank’s distribution network for customer acquisition, and provide customers a seamless digical experience for their investments & savings solutions. The Bank will simplify and integrate “manufacturing to distribution” of equity and debt investment products for all its customers.
The AMC will also gain from the Bank’s expertise in investment advisory, wealth management solutions, debt capital markets, its significant and growing customer base & distribution network, and overall execution expertise, to build a large and profitable Fund Management franchise.
In its 12th year of operations, as YES BANK accelerates into its next phase of growth, this new business initiative will provide further acceleration to YES BANK’s differentiated product offerings to its customers.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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