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Aditya Birla Sun Life AMC, a subsidiary of Aditya Birla Capital Limited (a significant non-bank financial services’ conglomerate), and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) on Thursdayannounced a strategic tie up with Saraswat Bank. The bank is the largest and one of the oldest urban co-operative banks in India.
As per the agreement, Saraswat Bank will now offer the entire bouquet of Aditya Birla Sun Life Mutual Fund products at its 280 plus branches across the country.
Commenting on the association, A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited, said, “As one of India’s leading Mutual Fund players, we are constantly on the look-out for opportunities that can help us expand the distribution reach of mutual fund products and enable investors to benefit from our offerings. Saraswat Bank, undoubtedly is one of the prestigious and trusted names in the banking industry.”
He added, “We are confident that the strong network of Saraswat Bank’s branches coupled with Aditya Birla Sun Life Mutual Fund’s expertise will further mutual fund penetration in India.”
Gautam Thakur, Chairman, Saraswat Bank, said, “We are delighted to be associated with Aditya Birla Sun Life Mutual Fund to offer their mutual fund schemes to our valued customers. This tie-up would go a long way in further strengthening the bond with our customers by offering them investment options in mutual fund schemes of ABSLMF.”
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