HDFC MF Ties Up With South Indian Bank

To enhance its distribution reach, HDFC Mutual Fund has entered into a strategic alliance with South Indian Bank to distribute its mutual fund schemes across India. As per the agreement, South Indian Bank will offer the entire bouquet of HDFC Mutual Fund products at its select 100 branches across the country. Dr.V.A.Joseph, Chairman & CEO, South Indian Bank and Mr. Milind Barve, Managing Director, HDFC AMC, made this joint announcement in Mumbai at the Exchange of Documents event. Speaking on the occasion Dr. V.A.Joseph, Chairman and CEO of South Indian Bank said SIB with 100% CBS branches across the country will add this new kitty in our financial supermarket for the benefit of our customers. This relationship should help the bank to add more fee based income which ultimately increases shareholder value.

HDFC Mutual Fund has set the objective of enhancing its customer base by providing a range of mutual fund products and superior customer service. The broad network of South Indian Bank is ideally positioned to provide us the required distribution platform. Mutual Funds as an investment option is not widely understood and therefore under owned and our partnership with South Indian Bank will help us to spread the knowledge and understanding of Mutual Fund Products.