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Karnataka Bank Ltd has inked a memorandum of understanding with Birla Sun Life Asset Management Company for distribution of mutual fund products.
Quoting the Managing Director of the bank, P Jayarama Bhat, a press release said the bank is committed to becoming a one-stop financial supermarket for its customers. In this background, the bank is expanding its scope with the distribution of mutual fund business by joining hands with Birla Sun Life MF.
Sourabh Arora, vice-president and head of Alternate Channel Business Development of Birla Sun Life MF, said his company is ready to provide all the help required to market mutual fund plans through the branches of the bank.
Tie-up with LIC MF
LIC Mutual Fund Asset Management Company has also tied up with Karnataka Bank for distribution of its mutual fund products. The distribution will be through over 730 branches of the bank across India.
Sarojini Dikhale, CEO, LIC Mutual Fund AMC, said the combination of a comprehensive range of products catering to the varying investment needs of investors and the distribution reach of the bank would be a great convenience to investors.
P Jayarama Bhat, Managing Director, Karnataka Bank, said the tie-up would be a forward looking step for the bank to provide a complete financial solution for customers and increase the option for customers to choose from a bouquet of financial solutions.
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