Syndicate Bank has tied up with IDBI Asset Management for distribution of their mutual fund products.
A memorandum of understanding (MoU) to this effect was exchanged by M. G. Sanghvi, Chairman and Managing Director, Syndicate Bank, and Debasish Mallick, Managing Director and Chief Executive Officer, IDBI Asset Management, on August 22.
Sanghvi said, “The bank’s endeavour is to provide a one-stop banking and investment solution to its customers. This tie-up with the asset management companies is one such initiative to provide customers a range of investment options, other than the regular banking products.”
“This would enable the Syndicate Bank branches to operate as a financial supermarket. The 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 client base and provide an opportunity to cross-sell,” he added.
Anjaneya Prasad M, Executive Director, Syndicate Bank, and General Managers of Syndicate Bank, along with other executives and clients of the Syndicate Bank were present on the occasion.