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Religare ties up with Andhra Bank to offer internet trading

Posted on: Sun, 14 Jun 2009 10:01:00 EDT

Symbols: ANHBF

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New Delhi, Jun 11, 2009 (Asia Pulse Data Source via COMTEX) --
ANHBF | Quote | Chart | News | PowerRating -- Financial services firm Religare Enterprises has tied up with public sector lender Andhra Bank for providing internet trading services platform to the bank's customers.

Religare and Andhra Bank have entered into a strategic tie-up offering Religare's internet trading services platform to the bank's customers, the company said in a statement today.

The new alliance is in line with Religares strategy of increasing its reach and penetration across the country.

The internet trading facility would be part of the value-added offering for the bank's savings account customers, offering them savings and a DP account from the bank along with an internet trading account, powered by Religare.

"Religare with its integral portal, and Andhra Bank, with its network, seek to capitalise on fast paced trends of internet trading, and thus provide maximum benefits to customers," Religare Enterprises Chief Executive Officer and Managing Director Sunil Godhwani said.

The partnership is a step forward to further strengthen Religare's "Bancinvest" channel, which already includes tie-ups with IndusInd Bank, Corporation Bank, Bank of Rajasthan and Karur Vysya Bank.

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