Syndicate Bank has entered into a distribution tie-up with ICICI Prudential Mutual Fund whereby the bank will sell the asset management company’s product through its branches.
As per the tie-up, the bank will sell and distribute the mutual fund scheme through its network of 2,709 branches spread across the country. Through this tie-up the bank will be able to offer superior scheme to its customers thereby helping it to increase its fee-based income.
On the other hand, the asset management company will also get the opportunity to strengthen its reach by penetrating in TIER II and TIER III cities by tapping bank’s customers across the country.
