SBI Funds, Dena Bank Tie-Up

Dena BankMumbai: SBI Funds Management Pvt Ltd has tied up with Dena Bank to increase the fund’s reach.

The memorandum of understanding (MoU) was signed between Syed Shahabuddin, Managing Director and Chief Executive Officer, SBI Mutual Fund, and U.S. Kohli, Executive Director, Dena Bank.

“The tie up with Dena Bank is prestigious as our quality products would now be available to the bank’s customers across the country,” Mr. Shahabuddin stated.

As of July 31, 2007, the total assets under management of SBI Mutual Fund stood at Rs 25,862 crore. Dena Bank has a total network of more than 1,100 divisions and satellite offices.

“Bank branches are being converted into financial super markets providing a host of financial solutions like banking, insurance, and investments to customers under one roof,” Kohli said.