| To this effect it has recently changed its memorandum of association and included the option of carrying on the business of merchant banking, investment banking, portfolio investment management. |
| It also intents to act as financial consultants, advisors, agents, distributors and brokers. |
| Although it has included these options in its MoA, the bank would be actually able to provide these services only after receiving Reserve Bank of India's permission. |
| In the non-life insurance segment Yes Bank intends to cash in on products such as fire, marine, cargo, marine hull, aviation, oil & energy, engineering, accident, liability, motor vehicles, and transit. |
| The bank is also open to entering the re-insurance and risk management business either directly or as an insurance agent, insurance broker or otherwise, subject to RBI clearance. |
| In a bid to cash in on the retail sector, Yes Bank also intends to cash in on transaction banking, working capital financing, securitisation of receivable and wealth management. |
| According to the bank, retail sector in India has undergone tremendous growth and change in recent years through the development of shopping malls and increasing market penetration of international retailing chains. It does not have any exposure to the sector as of December 31, 2004. |
| The bank is also actively targeting the mid-sized companies with turnover less than Rs 500 crore. This would be one of its key value drivers going forward and would be a strategic focus area in the years to come. |
| The key elements of the bank's strategy to attract customers in the segment would be to offer one-stop banking to customers for all their banking needs (including business, personal, wealth management and advisory) at the branch level, and provide a personal touch to customers by offering the services of business banking relationship managers and service managers at its branches. |
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