Mumbai, Monday, June 18, 2018: YES BANK, India’s 4th largest private sector Bank, has received final approval and registration from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities. “Custodian of Securities” is a license granted by SEBI to eligible entities allowing them to offer custodial services to financial market participants including Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs).
On receiving the approval from SEBI, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “Custodial Services will complement YES BANK’s existing Capital Market offerings and enable the Bank to play a larger role in channelizing domestic and foreign investments into Indian Financial Markets. YES BANK has built state-of-the-art Technology driven infrastructure, integrated with best-in-class Human Capital to offer the finest quality Custodial services to our Capital Market Clients. This approval is a reflection of YES BANK’s growing presence in Indian financial markets and increasing market share over the last 14 years since inception. We re-iterate our commitment towards providing complete financial products suite for all our valued customers”
YES BANK has leveraged its international reach through its International Banking team, IFSC Banking Unit in GIFT City and its representative office in Abu Dhabi as a part of the Bank’s strategy of becoming the leading ‘Host Country’ bank for Foreign Investors. In line with the same, we are already providing banking services to more than 25 FPIs currently through our Capital Markets team. The Bank will also be opening Representative offices in London and Singapore as per recent approval from the Reserve Bank of India.
The Bank firmly believes its cost-efficient approach with a focus on superior customer service standards will be a key differentiator for its Custody Services. The Custody business will allow the Bank to comprehensively service the Foreign Portfolio Investors (FPIs), Alternative Investment Funds (AIFs) and Portfolio Management Service (PMS) firms, as more and more investors look to participate in this exponential growth phase of our country, India.
Towards ensuring readiness for the Custody business – skilled executives, processes and adequate systems have been put in place for providing high quality services to all eligible entities.
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 28 states and 9 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