ICICI Prudential AMC Ltd. and Saraswat Co-operative Bank Ltd., the largest name in the urban co-operative banking space in India, in a ceremony held in Mumbai, announced their tie-up for mutual fund distribution.
Through this association, Saraswat Co-operative Bank Ltd. will be offering investment products of ICICI Prudential Mutual Fund to its customers, through its 280 branches, spread across six states.
ICICI Prudential Mutual Fund through this tie-up with Saraswat Co-operative Bank Ltd. aims to increase its reach and footprint, especially in smaller towns and cities and leverage on the Bankâ€™s 100-year plus presence in the country.
Speaking about the tie-up, Nimesh Shah, MD & CEO, ICICI Prudential AMC Ltd. said, â€œWe are pleased to partner with Saraswat Co-operative Bank Ltd., the largest co-operative bank in India, for promoting mutual funds to its customers. Through our investment offering, we believe the customers of Saraswat Co-operative Bank will have a wider choice of financial products that may bring them closer in achieving their financial goals.â€
Gautam Thakur, Chairman, Saraswat Co-operative Bank, while speaking about the development said, â€œWe are delighted to be associated with ICICI Prudential AMC in order to offer their mutual fund schemes to our esteemed customers. At Saraswat Co-operative Bank, we continue to blend our 100-year legacy with the flexibility and foresight of a contemporary institution, bringing in latest products and services to our custmers. The tie-up would go a long way in further strengthening the bond with our customers by offering them investment options in mutual fund schemes of ICICI Prudential Mutual Fund.â€