Shares of YES Bank
were trading 3% higher at Rs 346 per share on the BSE
after the bank said that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business.
was the top gainer among the S&P BSE Sensex
50 stocks at 09:58 am.
"YES Asset Management (India) Limited ('YAMIL') will leverage YES Bank's knowledge banking expertise and relationship capital across retail, corporate and institutional investors to effectively channelize their assets in equity and debt capital markets,” said Rana Kapoor, Managing Director & CEO, YES Bank.
This strategic initiative will further complement YES Bank's retail liabilities and wealth management strategy, and also allow YAMIL to build on the Bank's 'DIGICAL' distribution network to provide customers a seamless Investment and Banking experience, added Rana Kapoor.
YES Bank has also recently received the final license from SEBI to launch its Custodian of Securities business.
Till 09:58 am; the counter has seen huge trading volumes with a combined 5.5 million shares changed hands on the BSE