Yes Bank plans to enter brokerage business

[B. Karthick]

To cash in on surging stock markets in India, private sector lender
Yes Bank today said it would soon enter into retail brokerage
business, which would widen its fee-based income and mobilise low-cost
deposits.

"Brokerage is very compelling business, it helps to garner more
deposits. As and when there is transaction, the bank gets its fee,"
said Yes Bank Managing Director and CEO Rana Kapoor.

Asked about timing for starting new vertical, Kapoor said "We will
time it in next few months. We will be recruiting some external talent
to manage new business vertical."

Brokerage has the very synergistic model in the bank, he added.

Besides, Yes Bank is also closing its first private equity fund worth
about $250 million by September.

This is the first ever clean energy PE Fund called South Asia Clean
Energy Fund in partnership with Global Environment Fund of Washington
being done by any private bank.

The fund up to 250 million dollars would close by August-September, he
added.

B.Karthick
Research Analyst