Kolkata-based public-sector bank United Bank of India today entered into a tie-up with SBI Funds Management to offer mutual funds investment products to United Bank's customers.
"This will benefit our customers as they will have more opportunities to diversify their portfolio in accordance with their financial needs. Further it would give a boost to the non-interest income of the bank," United Bank of India's Chairman and Managing Diretor P K Gupta said.
SBI Funds management is a joint venture between State Bank of India and French financial services major Societe Generale Asset Management.
The company is the investment manager for SBI mutual funds.
The company has total assets under management worth Rs 29,151 crore as on July, 2008.
United Bank is one amongst the leading state-owned lenders in the country. It has a total branch network of 1,415.
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