How does the Central Bank of India and HSBC partnership benefit customers?

The partnership aims to help customers access a wider suite of mutual fund offerings and better deploy their savings across diversified investment options.

What were Central Bank of India's Q3 financial results?

Central Bank of India reported a net profit rise of 31.6% to ₹1,262 crore in the December quarter, with gross NPAs declining to 2.7%.

Home / Business and Economy / CBI, HSBC Unite for Mutual Fund Access

CBI, HSBC Unite for Mutual Fund Access

Q: What is the new partnership between Central Bank of India and HSBC Asset Management?

Central Bank of India has entered into a distributorship agreement with HSBC Asset Management India to offer HSBC Mutual Fund products to its customers.

31 Jan

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Summary

Central Bank of India partners with HSBC Asset Management.
Customers gain access to a wider range of mutual funds.
CBI's Q3 net profit rose 31.6% to ₹1,262 crore.

Central Bank of India has forged a new distributorship agreement with HSBC Asset Management India. This strategic partnership allows Central Bank of India customers to access and invest in a wider array of mutual fund products offered by HSBC.

The collaboration seeks to empower customers by enabling them to deploy their savings across more diversified investment avenues. HSBC Asset Management India manages the HSBC Mutual Fund and previously integrated the L&T Investment Management business in November 2022.

In parallel, Central Bank of India disclosed its third-quarter financial results, which presented a mixed performance. The bank's net interest income saw a marginal decline of 1% year-on-year, settling at ₹3,503 crore. However, net profit experienced a significant surge of 31.6%, amounting to ₹1,262 crore, bolstered by a notable increase in other income.