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YES BANK Receives In-Principle Approval from SEBI for Sponsoring a Mutual Fund

MUMBAI, 27th July, 2016:  YES BANK, India’s 5th largest private sector Bank, has received an in-principle approval from the Securities & Exchange Board of India (SEBI) to sponsor a Mutual Fund and to setup an Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Company shall be set up as wholly owned subsidiaries of YES BANK Limited.

This is further to the Reserve Bank of India (RBI) approval granted to YES BANK in October 2015.

The Bank has already identified senior leadership and technology architecture to establish this business, and will commence operations within 12 months.

The Asset Management Company (AMC) will channelize the savings of retail, corporate and institutional investors in equity and debt capital markets by leveraging YES BANK’s Knowledge Banking expertise. This will complement YES BANK’s retail liabilities strategy, and also allow the AMC to leverage the bank’s ‘DIGICAL’ distribution network for customer acquisition, and provide customers a seamless 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 further strengthen YES BANK’s expertise in wealth management solutions, debt capital markets and gain from its significant and growing customer base & distribution network, and overall execution expertise, to build a large and profitable Fund Management franchise.

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/

For media queries, please contact:

YES BANK
Jitesh Patel
Email: jitesh.patel@yesbank.in

Delna Irani
Adfactors
Email: delna@adfactorspr.com

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