Yes Bank to launch a broking subsidiary ‘Yes Securities’

Yes Bank, a private sector banks in India, has received the approval of Reserve Bank of India (RBI) to set up a broking subsidiary, Yes Securities Private Ltd. This subsidiary will have a capital of about Rs20 to 25 crore.

MD & CEO of Yes Bank Mr. Rana Kapoor said “The broking business will compliment our retail liabilities and wealth management proposition”.

The bank wants to increase its current and saving account base to 20% by 2013 from 16.2% at the end of June 2012.

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