ICICI Prudential enters for a tie up with CBI

Chennai, Nov 21: ICICI Prudential AMC has entered into a strategic partnership with Central Bank of India (CBI) for distribution of its Mutual Fund schemes to further strengthen its distribution reach.

CBI would now distribute ICICI Prudential Mutual Fund products to its customers across India through its large network of 3255 branches and 267 extension counters.

In a release here ICICI Prudential AMC Managing Director and CEO Nimesh Shah said the partnership would provide them an opportunity to assist the customers on Investment Solutions and facilitate the process for wealth creation.

CBI CMD H A Daruwalla said the tie-up will open up further opportunities to provide the bank's vast clientele a wider choice of products to meet their diverse financial needs and it would also give a boost to banks fee-based income.

The bank will distribute the entire range of ICICI Prudential products through a dedicated marketing team, Mr Daruwalla added.

UNI