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Our Bureau

Kolkata , Sept. 14

FRANKLIN Templeton is tying up with UCO Bank to distribute its funds. The two are expected to formalise a deal on Thursday.

Templeton aims to utilise the Kolkata-based bank's branch network to tap new customers. A number of branches will be designated, initially, for distribution of investment products.

At present, UCO has about 1,800 branches, many of which are located in the east. Its customer base stands at roughly nine million. The fund house plans to use them to reach out to a larger base of retail investors.

For UCO Bank, this will be the second such deal entered into in quick succession. It tied up with Prudential ICICI MF a few days ago.

In the past, it had entered into similar partnerships with UTI MF and Reliance MF.

The bank now foresees a turnover of Rs 500 crore from distribution of mutual funds.

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