Karnataka Bank Ties up with HDFC for Mutal Fund Business

Mangalore Today News Network

Mangaluru, May 23, 2017 : Karnataka Bank has entered into Distribution Agreement to sell mutual fund products of HDFC Capital Asset Management Limited (HDFCAML). The exchange of MOU took place in the Corporate Office of Karnataka Bank at Mangaluru by Shri Mahabaleswara M.S, Managing Director & CEO of Karnataka Bank and Mr. Rajiv Maniar, Senior Vice President & Head – Sales (East & South), HDFC Asset Management Company Limited.

Speaking on the occasion, Shri Mahabaleshwara M.S., Managing Director & CEO of the Bank said “Investment in mutual funds will provide an opportunity to those customers who are uncomfortable in investing directly in stock markets. Karnataka Bank is a time-tested customer-centric Bank and its 769 branches will provide an opportunity to the customers to invest in a strong brand like HDFC Mutual Fund. Through this tie-up we look forward in exploring all opportunities to offer strong and dynamic products and services of HDFC Mutual Fund to our valued customers”.

Shri Rajiv Maniar, Senior Vice President & Head – Sales (East & South) at HDFC Asset Management Company Limited “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”.

General Managers Shri Raghurama, Shri Chandrashekar Rao B, Shri Subhaschandra Puranik, Shri Balachandra Y.V., Shri Muralidhar Krishna Rao, Shri Nagaraja Rao B and others were present on the occasion on behalf of the Bank.  Shri Rajesh S, Regional Head, Zonal Marketing Unit and other representative were present from HDFC Capital Asset Management Limited (HDFCAML).