Religare, an integrated financial services provider, and Corporation Bank, one of the fastest-growing public sector banks in the country, today announced their tie-up. The tie-up, a holistic and integrated partnership, will initially focus on seamlessly offering Religare’s internet trading services platform to the Bank’s customers, to be eventually followed by a roll-out of the entire spectrum of Religare’s services to the Bank’s customers. This partnership is a step to further strengthen the “Bancinvest” Channel created by Religare, which already includes tie-ups with IndusInd Bank and Tamilnad Mercantile Bank.
This new alliance is in line with Religare’s strategy of increasing its reach and penetration across the country. This also facilitates the creation of new business opportunities and seamless customer centricity by leveraging the core competencies of both the organisations. Both organisations will work closely and leverage each other’s strengths to eventually ensure “customer delight”.
The internet trading facility or online trading service, as it is called, will be part of a value-added 3-in-1 offering for the Bank’s savings account customers, offering them a savings and a DP account from the Bank along with an internet trading account, powered by Religare.
Mr. Sunil Godhwani, CEO and MD, Religare Enterprises Ltd., said, “Religare, with its integrated portal, and Corporation Bank, with its network, ethos and customer-centric approach plan, seek to capitalise on the fast-growing phenomenon of internet trading and seamlessly cater to the convenience and value-seeking, cash-rich and time-poor new-age consumers. Our tie-up with Corporation Bank is in line with our strategy of reaching out, increasing our reach and penetration across the country. This alliance will allow customers to seamlessly execute their transactions to suit their needs and demands.”
Mr. U. Balkrishna Bhat, General Manager, Corporation Bank, said, “Our partnership with Religare demonstrates yet again that Corporation Bank is committed to providing a gamut of financial products and services under one roof. This alliance will enable us to expand our suite of capital market-related facilities to our customers in terms of Banking, Depository and Broking services. This move will also contribute to an increase in our non-interest income.”
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About Religare Enterprises Ltd.
Religare, a Ranbaxy promoter group company, is an integrated financial services institution. The Company offers a diverse bouquet of services, broadly clubbed across three key business verticals --- Retail, Wealth Management and the Institutional Spectrums. The services range from equities, commodities and insurance broking to wealth advisory, portfolio management services, personal financial services, investment banking and institutional broking services. Religare Enterprises Ltd. is the holding company for all its businesses being operated and structured through its various subsidiaries. Religare’s retail network spreads across the length and breadth of the country with its presence directly, or through its business associates, in 1,217 locations across 392 cities and towns.
Religare Enterprises Ltd. has filed a prospectus (“Prospectus”) with the Registrar of Companies (“ROC”), New Delhi, in relation to the initial public offering of its equity shares. For details, please refer to the Prospectus, which is available on the website of the Securities and Exchange Board of India (“SEBI” at www.sebi.gov.in as well as on the websites of the Book Running Lead Managers (“BRLMs”) at www.enam.com and www.citibank.co.in.
Visit www.religare.in
About Corporation Bank
Established in the year 1906, Corporation Bank is an organisation based on the traditional Indian values of service to the community. Corporation Bank is regarded as one of the well-run banks in the comity of Public Sector Banks in the country. The Bank has a unique history of 100 years of successful Banking. Excellence in performance and uniqueness in customer service form the central core of the Bank’s organisational culture. The growing confidence of its clientele is well reflected in the Bank’s performance in all critical areas of its operations all through the years.
Visit www.corpbank.com
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