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Hyderabad, Sept. 19

Andhra Bank will be cross selling the mutual fund (MF) products of Kotak Mahindra Asset Management Company. A memorandum of understanding was signed by Mr Anil Girotra, Executive Director, Andhra Bank, and Mr Sandesh Kirkere, Chief Executive Officer, Kotak Mahindra Asset Management Company, here on Friday. Speaking on the occasion, Mr Girotra said his bank was transforming itself into a financial super market. “We have 15 per cent market share in Andhra Pradesh which will help us market Kotak’s MF products in a better way,” he said. Mr Kirkere said Kotak was in the process of increasing its penetration in the market through qualitative distribution with partners such as banks. “This is the 11th tie-up for us with public sector banks,” he added.

— Our Bureau

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