IBDI
Mutual Fund has tied-up with Syndicate Bank to distribute its schemes through
the bank’s nationwide network.
The
MoU were exchanged by the Chairman and Managing Director of Syndicate Bank,
Shri M.G. Sanghvi and Shri Debasish Mallick, MD & CEO, IDBI Asset
Management Ltd.
“The
bank’s continuous endeavor is to provide one stop banking and iInvestment
solutions to its customers. Our bank has taken a lot of initiatives making a
separate vertical for mid-corporate and fee-based income. This tie-up with the asset
management companies is one such initiative to provide customers a wider range
of investment options, other than the regular banking products. This would
enable the Syndicate Bank branches to operate as a financial super market.
Branches can now cater to the needs of its customers by offering various mutual
fund schemes and help in strengthening the existing relationship with the bank’s
clientele base and provide an opportunity to cross-sell. This would also help
in augmenting the fee-based income.” Shri M.G. Sanghvi, Chairman and Managing
Director, of Syndicate Bank, said.
Debasish
Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said “IDBI
Mutual Fund is continuously exploring opportunities to reach our products to
the common man. Syndicate Bank with its large network of branches pan-India is
a strong partner to help us achieve our objective. We are, indeed, proud to be
associated with Syndicate Bank with its long and rich history in the banking
industry. We see value for ourselves as
well as our customers in this relationship.”
