BNP Paribas will invest ?70 million or approximately Rs 500 crore by 2020 in its newly acquired broking arm Sharekhan to expand its presence in the capital market.
Sharekhan, now owned by BNP Paribas after its acquisition last year, aims to double its customer base in five years from the current 1.4 million and is also looking to be among the top 15 mutual fund distributors in the country with Rs 20,000 crore in mutual fund assets under management.
Sharekhan became a 100 per cent subsidiary of BNP Paribas last November, on BNP Paribas completing the acquisition in the last week of the month.
BNP Paribas unveiled a new brand logo for Sharekhan—Sharekhan By BNP Paribas, replacing the earlier Sharekhan brand logo that had a tiger’s head along with Sharekhan written below. Thierry Laborde, member of the group executive committee of BNP Paribas, said, “We will be investing 70 million euros in Sharekhan by 2020.”
“Sharekhan by BNP Paribas will make significant investments in technology, especially digital, which together with more customer centric approach, will allow investors access to a variety of savings and investment products including equities, derivatives and also mutual funds,” BNP Paribas said in a statement.
“With this ambitious strategy and significant investment in technology as well as in building an exiting brand, we will make Sharekhan by BNP Paribas one of the preferred savings and investment partners for retail investors in India,” Laborde said.
“A strong digital-led approach will be at the core of strategy, as it is in all retail activities of BNP Paribas across the world,” Laborde said.
Jaideep Arora, CEO of Sharekhan by BNP Paribas, said, “The current macro environment in India offers a new wave of digital opportunity. We will leverage it to fundamentally change how people in India save and invest. Sharekhan by BNP Paribas will offer a comprehensive range of products from pure brokerage to asset based investment services including mutual funds and savings products.”
raviranjan@mydigitalfc.com
Sharekhan, now owned by BNP Paribas after its acquisition last year, aims to double its customer base in five years from the current 1.4 million and is also looking to be among the top 15 mutual fund distributors in the country with Rs 20,000 crore in mutual fund assets under management.
Sharekhan became a 100 per cent subsidiary of BNP Paribas last November, on BNP Paribas completing the acquisition in the last week of the month.
BNP Paribas unveiled a new brand logo for Sharekhan—Sharekhan By BNP Paribas, replacing the earlier Sharekhan brand logo that had a tiger’s head along with Sharekhan written below. Thierry Laborde, member of the group executive committee of BNP Paribas, said, “We will be investing 70 million euros in Sharekhan by 2020.”
“Sharekhan by BNP Paribas will make significant investments in technology, especially digital, which together with more customer centric approach, will allow investors access to a variety of savings and investment products including equities, derivatives and also mutual funds,” BNP Paribas said in a statement.
“With this ambitious strategy and significant investment in technology as well as in building an exiting brand, we will make Sharekhan by BNP Paribas one of the preferred savings and investment partners for retail investors in India,” Laborde said.
“A strong digital-led approach will be at the core of strategy, as it is in all retail activities of BNP Paribas across the world,” Laborde said.
Jaideep Arora, CEO of Sharekhan by BNP Paribas, said, “The current macro environment in India offers a new wave of digital opportunity. We will leverage it to fundamentally change how people in India save and invest. Sharekhan by BNP Paribas will offer a comprehensive range of products from pure brokerage to asset based investment services including mutual funds and savings products.”
raviranjan@mydigitalfc.com
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