Held on 14 January 2015
Yes Bank announced that the Board of Directors of the Bank at its meeting held on 14 January 2015, have approved the proposal to seek approvals from the Regulators for setting up Asset Management Business and Primary Dealership business considering the following;The Bank has established a distribution network of 600 branches as of 31 December 2014 across metro, urban, semi-urban and rural centers with a pan India distribution presence spreading across all states and union territories of the country.
With a view to complete the overall bouquet of financial products to its customer franchise, the Bank plans to set up an Asset Management Company (AMC), primarily to channelize the savings of retail investors in equity and debt capital markets. This will complement the Bank's retail liabilities strategy, strengthen multi-product customer engagement and also allow the Bank to leverage its distribution network for customer acquisition. The Bank will simplify and integrate "manufacturing to distribution" of equity and debt investment products for all its customers.
The AMC will complement YES Securities brokerage business which has now stabilized its operations and is rapidly growing its business footprint. The AMC will also complement the Bank's retail strategy and help in leveraging existing infrastructure to provide the necessary retail thrust. This will allow the bank to build a holistic wealth management proposition for its customers and enable the Bank to strengthen traction witnessed in building retail market share on the back of its Savings Account proposition.
Powered by Capital Market - Live News
