Mutual Fund has entered into a marketing alliance with
Dena Bank for distribution of its products through its
Bank will offer the entire bouquet of HDFC Mutual Fund
products at about 150 branches across India. According
to P L Gairola, chairman and managing director, Dena
Bank, "By offering a variety of financial services
under one roof, the bank's branches are taking the shape
of financial supermarkets, while adding value to the
relationship with our customers."
strategic tie-up would further strengthen the activity
of distribution of mutual fund products "and give
us an opportunity to boost fee-based income," he
Barve, managing director, HDFC MF, points out "the
broad network of Dena Bank is ideally positioned to
provide us the required distribution platform."
The partnership with Dena Bank "will help us to
spread the knowledge and understanding of mutual fund
products," he avers.
MF sells 30 per cent of its products through bank branches.
It already has similar tie-ups with Union Bank of India,
Bank of India and Canara Bank.