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 with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.
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