Sharekhan by BNP Paribas Aims to Double Customer Base in Five Years
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Sharekhan by BNP Paribas aims to double customer base in five years Coverage Report Prepared by: - Index Sr.No Publication Date Print 1. The Economic Times January 06, 2017 2. Mint January 06, 2017 3. Business Standard January 06, 2017 4. The Hindu Business Line January 06, 2017 5. Financial Express January 06, 2017 6. Financial Chronicle January 06, 2017 7. DNA January 06, 2017 8. Deccan Herald January 06, 2017 9. Afternoon Despatch & Courier January 06, 2017 10. The Navhind Times January 06, 2017 11. The Statesman January 06, 2017 12. Business Standard Hindi January 06, 2017 13. Malyala Manorama January 06, 2017 14. Mangalam January 06, 2017 15. Veekshanam January 06, 2017 16. Gujarat Pranam January 06, 2017 17. Gujarat Niti January 07, 2017 18. Mahangar Metro January 06, 2017 19. Marwad Mitra January 06, 2017 20. Rashtriya Swaroop January 06, 2017 21. Rahat Times January 06, 2017 22. Janpath Samachar January 06, 2017 24. Navbharat January 06, 2017 25. Nispaksh Divya Sandesh January 06, 2017 26. Smart Investment January 06, 2017 27. The Economic Revolution January 06, 2017 28. Dainik Bhor January 11, 2017 29. Sanjeevani Today January 11, 2017 30. Dainik Bhaskar January 11, 2017 31 Suryakaal January 09, 2017 32 Sakshi January 06, 2017 33 Eenadu January 06, 2017 34 Hukmnama Samachar January 12, 2017 35 Andhra Jyothi January 06, 2017 36 Agnibann January 11, 2017 37 Pradesh Today January 11, 2017 38 Sandhya Prakash January 11, 2017 39 Open Search January 11, 2017 40 Anubhooti Times January 11, 2017 41 Shilpakar Times January 11, 2017 42 Pratkshya Bharat January 11, 2017 43 Veer Arjun January 13, 2017 44 Suryaprava January 12, 2017 45 Odiyara Samana January 12, 2017 46 Kholadwara January 12, 2017 47 Duniya Khabara January 12, 2017 48 Nitidin January 13, 2017 49 Manthan January 13, 2017 50 Amruta Dunia January 13, 2017 Wire 33 PTI January 05, 2017 Online 34 ET online January 05, 2017 35 Mint January 05, 2017 36 BS Online January 05, 2017 37 BS Online January 05, 2017 38 HBL Online January 05, 2017 39 India Today Online January 05, 2017 40 Financial Express January 05, 2017 41 My Digital FC January 05, 2017 42 Moneycontrol January 05, 2017 43 Bloomberg Quint January 05, 2017 44 Deccan Herald January 05, 2017 45 NDTV Profit January 05, 2017 46 Afternoon Despatch & Courier January 05, 2017 Broadcast 47 CNBC TV-18 January 05, 2017 48 NDTV Profit January 05, 2017 PRINT Date: January 06, 2017 Publication: The Economic Times Date: January 06, 2017 Publication: Mint Date: January 06, 2017 Publication: Business Standard Date: January 06, 2017 Publication: The Hindu Business Line Date: January 06, 2017 Publication: The Financial Express Date: January 06, 2017 Publication: Financial Chronicle Date: January 06, 2017 Publication: DNA Date: January 06, 2017 Publication: Deccan Herald Date: January 06, 2017 Publication: Afternoon Despatch & Courier Date: January 06, 2017 Publication: The Navhind Times Date: January 06, 2017 Publication: The Statesman Date: January 06, 2017 Publication: Business Standard (Hindi) Date: January 06, 2017 Publication: Malyala Manorama Date: January 06, 2017 Publication: Mangalam Date: January 06, 2017 Publication: Veekshanam Date: January 06, 2017 Publication: Gujarat Pranam Date: January 06, 2017 Publication: Gujarat Niti Date: January 06, 2017 Publication: Mahanagar Metro Date: January 06, 2017 Publication: Marwad Mitra Date: January 06, 2017 Publication: Rashtriya Swaroop Date: January 06, 2017 Publication: Mahanagar Metro Date: January 06, 2017 Publication: Janpath Samachar Date: January 07, 2017 Publication: Navbharat Date: January 08, 2017 Publication: Nispaksh Divya Sandesh Date: January 10, 2017 Publication: Smart Investement Date: January 10, 2017 Publication: The Economic Revolution Date: January 11, 2017 Publication: Dainik Bhor Date: January 11, 2017 Publication: Sanjeevani Today Date: January 11, 2017 Publication: Dainik Bhaskar Date: January 09, 2017 Publication: Suryakaal Date: January 06, 2017 Publication: Sakshi Date: January 06, 2017 Publication: Eenadu Date: January 12, 2017 Publication: Hukmnama Samachar Date: January 06, 2017 Publication: Andhra Jyothy Date: January 11, 2017 Publication: Agnibann Date: January 11, 2017 Publication: Pradesh Today Date: January 11, 2017 Publication: Sandhya Prakash Date: January 11, 2017 Publication: Open Search Date: January 11, 2017 Publication: Anubhooti Times Date: January 11, 2017 Publication: Shilpakar Times Date: January 11, 2017 Publication: Pratkshya Bharat Date: January 13, 2017 Publication: Veer Arjun Date: January 12, 2017 Publication: Suryaprava Date: January 12, 2017 Publication: Odiya Samana Date: January 12, 2017 Publication: Khola Dwara Date: January 12, 2017 Publication: Duniya Khabara Date: January 13, 2017 Publication: Nitidin Date: January 13, 2017 Publication: Manthan Date: January 13, 2017 Publication: Amruta Dunia WIRE Date: January 06, 2017 Publication: PTI BNP to invest euro 70 million in Sharekhan, not to exit Geojit Mumbai, Jan 5 (PTI) French financial powerhosue BNP Paribas today said it will invest 70 million euros more into just acquired retail broking firm Sharekhan over the next five years, and ruled out exiting another brokerage firm Geojit. Sharekhan, the largest standalone retail brokerage in the country, and the third largest in terms of customer base after ICICI Direct and HDFC Securities, was acquired by BNP Paribas late Novmebr. It is now a subsidiary of the global banking giant's digital banking and investment services business -- Personal Investors. BNP Paribas Group Executive Committee member Thierry Laborde told reporters here that of the total planned investments of 70 million euros, 15-20 million euros will be pumped in to upgrade the digital platfrom of Sharekhan, a move which is expected to help the brokerage double its customer base of 1.4 million over the next five years to 2.9 million. Sharekhan, set up in 2000, has 4.2 per cent market share, while ICICI Securities, the overall largest player, has 3.6 million customers. But Sharekhan is the largest player in terms of active customers with 24 per cent of its 1.4 million customers being active in trading. This figure is only 17 per cent for ICICI and 15 per cent for HDFC Securities which has 2.3 million customers, making it the second largest player. "We will make significant investments in technology, especially digital...allowing investors access to a variety of savings and investment products like equities and derivatives but also mutual funds," Laborde said. As part of its `Vision 2020', Sharekhan by BNP Paribas is also targeting to be among the top 15 MF distributors in the country with Rs 20,000 crore in assets under management. Meanwhile, Laborde said the acquisition of Sharekhan does not affect BNP Paribas' committment towards Geojit, in which it holds 32.6 per cent stake. Affirming they have no plans to exit Geojit, BNP Paribas India CEO and Country Head Joris Dierckx said the move to acquire Sharekhan does not represent conflict of interest with Geojit. "There is enough space for both companies to operate," Dierckx noted, adding, "Sharekhan by BNP Paribas is a significant step for the group in India and we expect that its strong network will be the backbone for the distribution of savings and investment products." He said after the Sharekhan deal got the final regulatory and FIPB approval, the group withdrew its two board members from Geojit so that there is no conflict of interest. The French financial services major picked up nearly 33 per cent in Geojit for Rs 207 crore way back in 2006. And Laborde said he is happy with the way Geojit is being run and that his group is only a financial investor now in the Kochi- based brokerage. BNP had announced its plans to buy out Sharekhan in late July 2015 for Rs 2,200 crore. BNP bought out the existing shareholders in Sharekhan - the Rohatyn Group, Baring Private Equity Asia, IDFC and Samara Capital in the Rs 2,200-crore deal. Sharekhan was set up by Mumbai-based entrepreneur Shripal Morakhia, whose family has been in the equity broking business for decades. Till March 2007, the Morakhia family owned a 43.58 per cent stake in the brokerage. Over the years, this holding was sold to PE investors. Sharekhan is planning to bring out a new website, more mobile applications and an upgraded trading platforms going forward. Sharekhan by BNP Paribas became a 100 per cent subsidiary of BNP Paribas Group in late November 2016 after the FIPB approved the deal. ONLINE Date: January 06, 2017 Publication: ET Online Despite Sharekhan acquisition BNP Paribas to hold stake in Geojit Mumbai: French Bank BNP Paribas on Thursday said it will invest 70 million euros in retail brokerage Sharekhan by 2020, which it acquired in November. The combined entity has been rechristened “Sharekhan by BNP Paribas”. The bank will also continue holding its 33.4% stake in rival retail broker Geojit Financial Services, though it is no longer a promoter in the firm. The present arrangement does not invite questions of a conflict of interest said Joris Dierckx, CEO and Country Head-BNP Paribas India. “The view of BNP Paribas is that there is no conflict of interest between our stake in Geojit and the shareholding in Sharekhan.” Two nominees of BNP had resigned from Geojit in November last year to avoid a situation where the company is on the board of two competing firms. BNP Paribas had acquired Sharekhan in November last year for Rs 2,000 crore while its stake in Geojit is around Rs 287crore. Dierckx said that to address any potential concerns, BNP had made a few decisions, “We have taken a step back from the arrangement that we had with Geojit and we have withdrawn from certain negotiations....we have reorganised the arrangements.” Up to 20 million euros of the total investment amount would be put into the digital business over a period of five years said Jaideep Arora, CEO of Sharekhan.