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Cholamandalam DBS Launches Online Share
trading - CholaDBS Direct.com |
Chennai, May 14, 2008 - Cholamandalam DBS
Finance Limited, a joint venture between the
Rs. Rs. 9582 crore Murugappa Group and DBS
Bank of Singapore, today announced the
launch of CholaDBS Direct, an online
investment portal aimed at retail investors
and traders. The portal,
www.choladbsdirect.com , presents itself as
a financial gateway for first time as well
as regular investors, helping them invest
safely and securely across a wide variety of
financial instruments online. The portal
will initially also host most of the in
house research that has been hitherto
available to HNI clients of the firm.
Speaking on the occasion, Mr. Atul Pande,
Managing Director, Cholamandalam DBS, said,
“With the launch of CholaDBS Direct, we
expect to gain a sizable market share in the
online trading space. Our partner, DBS
Vickers Securities, the securities arm of
the DBS Group, is a strong online player,
and we have integrated our domestic and
international Knowledge to ensure we present
a very strong platform to Indian investors.
With our strong focus on customer choice and
transparency, we believe we can play a
pivotal role in this industry over the next
three to five years. The product would now
be available across all our 90, existing
wealth management, branches across 46
cities.”
Mr Sandip Raichura, Head Broking,
Cholamandalam DBS, said “CholaDBS Direct’s
trading platform offers a very user friendly
interface for both active traders as well as
investors. More over, we are continually
going to build around technologies that
allow clients to experience online trading
in a very different way. We have also priced
it vey aggressively and are offering a
3-in-1 account in partnership with banks.
The portal was being test marketed in some
key locations over the past few months and
the initial response suggested that the
online community would continue to not only
grow substantially but also force key
players to bring strength and variety in
their offering. Our client service standards
would continually be ramped up to ensure we
retain a large part of our investor base
over the years”.
Mr Pande also said that Cholamandalam DBS
was also looking at partnering with some
banks and other financial institutions to
offer their customer base a range of white
labeled retail products including personal
loans and online broking.
About Cholamandalam DBS Finance Limited
Cholamandalam DBS is a joint venture between
the Murugappa Group and DBS Bank of
Singapore. The Company, along with its
subsidiaries and affiliates offers
individual and institutional customers a
range of financial services such as,
Personal Loans, Vehicle Finance, Home Equity
Loans, Capital Market Finance, Corporate
Finance, Mutual Funds, Securities Broking
and Distribution of Investment and Insurance
products. The Company’s shares are listed on
Bombay (BSE) and National (NSE) stock
exchanges.
About the Murugappa Group
Headquartered in Chennai, the USD 2
billion (Rs.8500 crore) Murugappa Group is
India’s leading business conglomerate.
Market leaders in diverse areas of business
including engineering, abrasives, finance,
general insurance, sanitaryware, cycles,
sugar, farm inputs, fertilizers,
plantations, bio-products and nutraceuticals,
its 29 registered companies have
manufacturing facilities spread across 14
states in India. The organisation fosters an
environment of professionalism and has a
workforce of over 30,000 employees.
The Group has forged strong joint venture
alliances with leading international
companies like Roca, Cargill, DBS Bank,
Mitsui Sumitomo and Groupe Chimique Tunisien
and has consolidated its status as one of
the fastest growing diversified business
houses in India.
About DBS
Headquartered in Singapore, DBS Group
Holdings Ltd is the holding company of DBS
Bank and is one of the largest companies in
terms of market capitalisation whose shares
are listed on the Singapore Exchange. DBS
Group and its subsidiaries form one of the
largest banking groups in the region in
terms of shareholders' funds and total
assets as at 31 December 2006, being
approximately SGD18.7 billion (USD12.2
billion) and approximately SGD197.4 billion
(USD129 billion). DBS is a leading bank in
Hong Kong. Beyond the anchor markets of
Singapore and Hong Kong, DBS serves
corporate, institutional and retail
customers through its operations in
Thailand, Malaysia, Indonesia, India, China
and The Philippines. The Bank's credit
ratings are one of the highest among banks
competing in the Asia-Pacific region, and in
Singapore.
For further information, please contact:
Mr. Atul Pande
Managing Director
Cholamandalam DBS Finance Limited
Tel: 044-25307172 |
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