UCO Bank partners Religare for internet trading services

April 25th, 2011 - 7:09 pm ICT by IANS  

Kolkata, April 25 (IANS) Kolkata-based UCO Bank and Religare Securities Limited (RSL), a wholly-owned subsidiary of Religare Enterprises Limited (REL), Monday entered into a tie-up, offering Religare’s internet trading services platform to the bank’s customers.

“We are pleased to announce a strategic partnership with the UCO Bank. This alliance will further boost our strategy of increasing our pan-India presence and thereby reaching to wider customers,” RSL chief executive officer Gagan Randev told a press conference here.

He said the strategic tie-up will eventually be followed by a roll-out of the entire spectrum of Religare’s portfolio of products to the customers of UCO Bank.

Religare already has tie-ups with IndusInd Bank, Tamilnad Mercantile Bank, Corporation Bank, Karur Vysya Bank, Bank of Maharashtra, Union Bank and Andhra Bank.

“Our company currently has seven percent share in equity market and about eight lakh customers. I expect that the tie-up (with UCO Bank) will boost up our revenue,” Randev added.

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