Mumbai: Diversified public sector lender Bank of Baroda has entered into a strategic alliance with Reliance Capital Asset Management Co Ltd for marketing and distribution of Reliance Mutual Fund products across selected branches of the bank.
BoB has evolved into a financial supermarket providing an array of products to different customer segments under one roof, the bank's executive director V Sanathanaraman said.
The tie-up, he said, is part of the bank's customer-centric strategy, as it strives to provide greater customer convenience. BoB, he said, is enlarging its basket of products, both its own as also from third parties.
"Over the years, Bank of Baroda has seized new business opportunities, offered a suite of products and services and taken major initiatives to provide convenience to the customers," he said. The bank will effectively leverage its vast branch network, state-of-the-art technology and customer base, he added.
"The investors of Reliance Mutual Fund will now have one more delivery channel", said Vikrant Gugnani, CEO and president, Reliance Capital Asset Management Co. He said the partnership between the two would enhance the value proposition to the customers.
BoB with over a century of banking experience and offices in 21 countries, is one of the top banks in the country both in terms of revenue and reach.