New Delhi, Oct 30: Punjab National Bank today launched distribution of mutual funds schemes of principal AMC as part of the agreement signed by the bank. "Marketing of mutual funds would be another step towards providing integrated financial solutions to the valued customers," PNB Chairman S S Kohli said flagging of the distribution activity here.
He said the bank has identified six branches in delhi for the pilot run and the facility would be extended to 50 branches in two months and 100 in the six months time.
The move is part of the pact between PNB, Vijaya Bank and principal finance group of US to collaborate in the areas of mutual funds, life insurance and pension.
Principal, the fortune 500 company managing over USD 111 billion worth of assets worldwide, has a customer base of 13 million.
Bureau Report