The Hindu : Business : SIB ties up with Sundaram Mutual

Online edition of India's National Newspaper
Wednesday, Jul 12, 2006

Business

Business

SIB ties up with Sundaram Mutual

Staff Reporter

THIRUVANANTHAPURAM : Sundaram BNP Paribas Mutual and South Indian Bank (SIB) have entered into a strategic distribution tie-up. Under the tie-up, SIB will distribute the entire bouquets of Sundaram BNP Paribas Mutual schemes through the bank's 451 branches and 44 extension counters located in 19 States. The tie-up would provide an opportunity for the bank's customers to invest in the schemes of Sundaran BNP Paribas Mutual.

T.P. Raman, Managing Director, Sundaram BNP Paribas Mutual, described the tie-up as a strategic one as "it adds value to the distribution network of Sundaram BNP Paribas Mutual via all branches of the SIB. We see greater potential for Sundaram BNP Paribas Mutual to grow in collaboration with the banks, as the banking sector in India has many folds larger retail network reach as against the mutual fund industry."

V.A. Joseph, chairman and CEO of SIB said " SIB has initially identified 200 branches across the country to offer mutual fund products to the investors."

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