Karnataka Bank has entered into a distribution agreement to sell mutual fund products of HDFC Capital Asset Management Limited (HDFCAML).
Karnataka Bank MD and CEO Mahabaleshwara M S and HDFC Asset Management Company Limited senior vice president and head – Sales (East & South) Rajiv Maniar exchanged the MoU.
Speaking on the occasion, Mahabaleshwara M S said, “Investment in mutual funds will provide an opportunity to customers who are uncomfortable investing directly in stock markets.
The Karnataka Bank is a time-tested customer-centric bank and its 769 branches will provide an opportunity to customers to invest in a strong brand like HDFC Mutual Fund. Through this tie-up we look forward to explore all opportunities to offer strong and dynamic products and services of HDFC Mutual Fund to our valued customers”.
Rajiv Maniar, senior vice president and head – Sales (East & South) of HDFC Asset Management Company Limited, said, “This tie-up is a big opportunity to both the Bank as well as HDFC AMC, as there is a gradual shift from physical assets to financial assets and addition of new investors in mutual fund is ever increasing. With strong presence of Karnataka Bank in Tier I, Tier II and Tier III centres across India, the tie-up will give us an opportunity to expand our base in these centres.”