RBL Bank Looks Beyond Lending, Weighs Broking and Asset Management
What Happened
RBL Bank is evaluating entry into the mutual fund and retail broking businesses as it looks to diversify revenue beyond traditional banking and strengthen its wealth-management offerings. MD & CEO R. Subramaniakumar said the bank is assessing whether to build these businesses organically or pursue acquisitions. The bank also plans to launch custodian and settlement services within nine months and is expanding its presence in merger-and-acquisition financing.
Key Takeaways
The proposed expansion would help RBL Bank build a broader capital-markets franchise and increase fee-based income, although no timeline has been specified for entering mutual funds or broking.