RBL Bank eyes on broking, mutual funds to expand capital market presence

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, a subsidiary of UAE's Emirates NBD, will see which activities can be done internally, which can be handled at the group level and the separate units which it needs to form.

"All the plans are under evaluation," Subramaniakumar told PTI, declining to share a timeline by when plans will be firmed up.

Activities like the asset management company or mutual fund, and also advisory businesses like retail broking and institutional broking will have to be outside of the bank through specialized units.

He said various plans are "under radar" and it is too premature to comment on any questions like whether the bank flush with capital will choose to acquire an existin