Karur Vysya Bank on Wednesday (8 July) said it has entered into a corporate agency partnership with Bajaj Allianz Life Insurance to offer life insurance solutions to the bank's customers.
Under this partnership, all retail and group products of Bajaj Allianz Life will be made available to the bank's customers, including savings, retirement, investment, protection and critical illness life insurance products. The insurer's products will be available at the bank's 780 branch offices spread across India.Shares of Karur Vysya Bank advanced 3.74% to Rs 35.80. The stock hit a high of Rs 36.55 and a low of Rs 34.05 so far.
Karur Vysya Bank is engaged in providing banking and financial services, including commercial banking and treasury operations. The bank's business segments include treasury, corporate and wholesale banking, retail banking and other banking operations.
The bank's net profit jumped 39.5% to Rs 83.70 crore on a 3.3% rise in total income to Rs 1803.15 crore in Q4 FY20 over Q4 FY19.
Meanwhile, shares of Bajaj Finserv fell 1.44% to Rs 6501.50 on the BSE, amid some bit of profit taking. The stock had gained 7.26% in two sessions.
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