South Indian Bank announces the launch of a wealth management platform in partnership with Geojit Financial Services Ltd.
SIB Wealth is an exclusive value-added service that will help the bank's high net worth (HNI) customers to invest their money in the best financial instruments available in the market. Under the platform, SIB will be offering the following products/services:
- Portfolio management services
- Alternative investment fund
- Systematic investment plan
- Mutual fund
- Real estate funds
- Structured products
South Indian Bank has tied up with Geojit Financial Services Ltd, an investment services company with experience of over 35 years in providing effective financial solutions, to operationalise the service offering.
Speaking on the occasion, Thomas Joseph K, EVP & Group Business Head, South Indian Bank said, "Demand for professional wealth management services has increased in the recent times. In our nine decades of legacy, our aim has always been to provide the best in-class services to our customers. This service will help the HNI customer base with appropriate financial products and advisory to enable them to maximise their wealth. I'm confident that SIB Wealth will prove to be one of India's most comprehensive wealth management platforms."
Jones George, Executive Director, Geojit Financial Services Ltd., further elaborated, "We are proud to be partnering a financial institution with a rich legacy of over nine decades. We hope to leverage the same to provide investment solutions based on our over 35 years of expertise in the Indian capital market. This will enable the bank's account holders to maximise their wealth through tailored investment solutions. We are sure that SIB Wealth will add to SIB's robust brand proposition."
SIB Wealth will provide integrated services. Along with managing their financial assets, we will be creating strategic plans for their current and future needs. Geojit's expertise will be valuable as we enable our HNI customers to fulfil their financial goals with the best wealth management solutions.
Shares of The South Indian Bank Limited was last trading in BSE at Rs. 17.65 as compared to the previous close of Rs. 17.90. The total number of shares traded during the day was 1864767 in over 3295 trades.
The stock hit an intraday high of Rs. 18.30 and intraday low of 17.45. The net turnover during the day was Rs. 33007076.00.