Wednesday, February 22, 2012 14:03 Hrs IST

United Bank of India Signs MOU With DSP Black Rock Investment Managers

United Bank of India has signed a distribution agreement (MOU) with DSP Black Rock Investment Managers for distribution of various Mutual Funds Schemes of DSP Black Rock. United Bank of India will be distributing DSP Black Rock Mutual Fund schemes through its selected branches spread across the country.

The MOU was signed and exchanged by Shri A.Nanda , General Manager-UBI & Mr. S. Naganath, President & CIO, DSP Black Rock. The programme was also graced by the presence of Shri Bhaskar Sen, Chairman & Managing Director –United Bank of India.

Speaking on the occasion Shri Bhaskar Sen said that “United Bank has always been committed towards offering newer products to its esteemed customers. He further mentioned that Mutual Funds' distribution through Bank helps the Bank to provide its customers a wider range of investment options, other than normal banking products. Further, it also gives a boost to the Non-Interest Income of the Bank.”

He also mentioned that “Keeping in view the volatility of the stock market, the bank offers/distributes SIP Mode of Mutual Funds investment to its customers, which is much safer mode of investing into any Mutual Fund scheme.

Mr. S. Naganath, President and Chief Investment Officer, DSP BlackRock Investment Managers said “Mutual Funds, as an investment avenue, are becoming increasingly popular with retail investors. Offering advice on Mutual Fund investments is an extension of the value added services that are offered by banks. We are delighted to have a distribution agreement with United Bank of India for the distribution of DSP BlackRock Mutual Fund schemes and look forward to a long and fruitful relationship.”