business
RBL Bank evaluating foray into broking and mutual funds business
RBL Bank is evaluating a foray into broking and asset management, its MD and CEO R Subramaniakumar said.
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Key points
- RBL Bank is evaluating a foray into broking and asset management to expand capital market activities.
- MD and CEO R Subramaniakumar said no decision has been reached and declined to share a timeline.
- Subramaniakumar said broking and mutual fund activities would have to be outside the bank in specialized units.
Why it matters. If pursued, the move would extend RBL Bank, a subsidiary of UAE's Emirates NBD, into capital markets businesses where several peers already have dedicated subsidiaries.
RBL Bank is evaluating a foray into broking and asset management as part of expanding its capital market activities, managing director and chief executive R Subramaniakumar said on Wednesday. He said no decision has been reached and all plans are under evaluation, declining to share a timeline.
Latest updates
RBL Bank evaluating foray into broking and mutual funds business
Private sector lender RBL Bank is evaluating a foray into the broking and asset management space as part of its move to expand capital market activities, a top official said on Wednesday. Making it clear that no decision has been reached on the subject, its managing director and chief executive R Subramaniakumar said the bank will see which activities can be pursued. RBL Bank is a subsidiary of UAE's Emirates NBD. The move would mark a significant expansion of the bank's financial services offerings beyond traditional lending. The evaluation is part of a broader strategy to diversify revenue streams and strengthen the bank's capital market presence.
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