Sharekhan by BNP Paribas aims to double customer base in five years
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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
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. There would be more focus on mobile broking he said.
"Our priority in terms of product development, roadmap is going to be mobile first. We get 10- 12% (business) through mobile. This is going to be much more significant. India is already the second largest smartphone market with 220 million smart phones in 2015, likely to go to 530 million." said Arora.
The main objective of the acquisition is for the retail broking firm to become the second largest one in the country by 2020 said Thierry Laborde, Deputy CEO and Head of Domestic Markets, BNP Paribas. http://economictimes.indiatimes.com/markets/stocks/news/despite-sharekhan-acqusition-bnp- paribas-to-hold-stake-in-geojit/articleshow/56357361.cms
Date: January 06, 2017 Publication: Livemint
BNP Paribas to continue holding stake in Geojit unit even after Sharekhan buy
Mumbai: French Bank BNP Paribas SA will continue holding its stake in Geojit BNP Paribas Financial Services Ltd, even after its acquisition of retail-focused brokerage Sharekhan, a top official said.
“It’s a large country, with a very deep market in savings, mutual funds, retail brokerages and so on,” said Thierry Laborde, deputy chief operating officer-head of domestic markets at BNP Paribas. “We will continue in this way,” Laborde said, referring to the bank’s investments in Geojit BNP Paribas and Sharekhan.
Geojit BNP Paribas shares rose after Laborde’s statement, closing 4.8% higher at Rs36.80 on BSE.
Beatrice Cossa-Dumurgier, global head of BNP Paribas Personal Investors, added that two executives of the French bank stepped down from the board of Geojit BNP Paribas, when the deal with Sharekhan was closed in November. As at 30 September, BNP Paribas SA held a 32.60% stake in Geojit BNP Paribas Financial Services Ltd, while BNP Paribas India Holding Pvt. Ltd held 0.80% stake, data from BSE showed.
After receiving all approvals, BNP Paribas of France completed the acquisition of Sharekhan in November. Sharekhan is now a fully-owned unit of BNP Paribas and will join Personal Investors, BNP Paribas’ business line dedicated to digital banking and investment services.Sharekhan aims to double its customer base from the current 1.4 million over five years, and targets to be one of the top 15 mutual fund distributors in the country, Jaideep Arora, CEO of Sharekhan said.
Dumurgier said BNP Paribas plans to spend around €70 million up to 2020 to support Sharekhan’s growth and initiatives.
In July 2015, the French bank had said it had agreed to acquire Sharekhan after nearly six months of negotiations between existing investors and bidders, including bulge bracket private equity (PE) firms Warburg Pincus Llc and General Atlantic Llc, which bid together.
Sharekhan was founded in 2000 by Mumbai-based entrepreneur Shripal Morakhia, whose family was in the equity broking business for decades.
Till March 2007, the Morakhia family owned a 43.58% stake in the brokerage. Over the years, this holding was sold to PE investors.
http://www.livemint.com/Industry/9LHyO5TXNKmk3WOLLyZnMP/BNP-Paribas-to-continue- holding-stake-in-Geojit-unit-even-af.html
Date: January 06, 2017 Publication: BS Online
BNP's Sharekhan eyes top slot among broking outfits
Retail brokerage Sharekhan, which was recently acquired by French bank BNP Paribas, aims to become the number two broking outfit in the country in terms of number of clients. It will also double its client base from 1.4 million now. The brokerage currently enjoys a 4.2 per cent market share. As of September 2016, BNP Paribas held 32.6 per cent stake in Geojit BNP Paribas Financial Services, while BNP Paribas India Holding held 0.8 per cent, data on the BSE site show. BNP Paribas will continue to hold a stake in Geojit BNP Paribas Financial Services.
BNP had bought 34 per cent stake in the Kochi-based Geojit Securities in 2006. Sharekhan became a 100 per cent subsidiary of BNP Paribas in November 2016. The retail broker will spend $15-20 million in the next five years for its digital push that will include a greater focus on mobile services, fully-automated robo advisory services, a new website, upgrading its trading platform and online courses to educate customers, among other things. Currently, 65 per cent of the broker’s business comes from the online route while another 12 per cent comes from mobile.
The broker aims to cross-sell products and be among the country’s top 15 mutual fund distributors by 2020. “With this ambitious strategy and significant investments in technology as well as in building an exciting brand, we’ll make Sharekhan by BNP Paribas one of the preferred savings and investment partners for retail investors in India. A strong digital-led approach will be at the core of the strategy, as it is in all retail activities of BNP Paribas across the world,” said Thierry Laborde, member of the group executive committee of BNP Paribas SA. A high cost structure and onerous compliance requirements have made retail broking a tricky area for foreign brokerages. In 2003, HSBC InvestDirect shut shop in India as a high cost structure made the business unviable. “We have been consistently profitable despite market volatility and will continue to manage costs in the future,” said chief executive Jaideep Arora.
“One also has to look at BNP Paribas’ experience with Cortal Consors in Europe.” Cortal Consors is a leading European broker in personal investing and online trading with presence in five European countries. Margins are wafer-thin, as volumes are dominated by lowyield options. Intense competition among brokers and the proliferation of discount brokerages have also been key in driving down costs. Sharekhan is present in 500 cities and has 150-plus branches and 2,300 franchisees. Sharekhan was set up in 2000 by Shripal Morakhia. http://www.business-standard.com/article/specials/bnp-s-sharekhan-eyes-top-slot-among- broking-outfits-117010600005_1.html
Date: January 06, 2017 Publication: BS Online
BNP to invest euro 70 million in Sharekhan, not to exit Geojit
French financial powerhosue BNP Paribas on Friday 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 November. 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. http://www.business-standard.com/article/international/bnp-to-invest-euro-70-million-in- sharekhan-not-to-exit-geojit-117010501099_1.html
Date: January 06, 2017 Publication: HBL Online
Sharekhan plans to double customer base in next 5 years
Mumbai, January 5: The third-largest retail broking firm in the country, Sharekhan, on Friday announced a slew of measures and aggressive growth strategies to climb to the second spot in the online broking space over the next five years. It also launched a new logo, in line with its Vision 2020 and post-acquisition by BNP Paribas in November 2016.
BNP Paribas SA said it will continue holding its stake in Geojit BNP Paribas Financial Services, even after its acquisition of retail-focused brokerage Sharekhan. The company said there was no conflict between the two investments.
Sharekhan, the largest standalone broking firm in India, plans to double its customer base from the current 1.4 million in the next five years.
The company commands 6 per cent market share in the 25-million strong online customer segment.
Sharekhan, incorporated in 2000, pioneered the online retail broking industry and leveraged on the first wave of digitisation when dematerialisation of shares took off in 2002. In terms of cash market volumes, it has a market share of 4.2 per cent.
In the second wave of digitisation, majority of Sharekhan’s business and growth will come from mobiles. Currently, mobile-based transactions form 12 per cent of its business. “We believe in mobile commerce. Our goal is to become the most preferred platform for digital savers and investors,” said Jaideep Arora, CEO, Sharekhan.
The company plans to invest around €70 million.
Sharekhan also aims to launch a new website, mobile apps, hire more people, and upgrade its trading platform. It also aims to see itself among the top 15 MFs by 2020. http://www.thehindubusinessline.com/markets/stock-markets/sharekhan-plans-to-double- customer-base-in-next-5-years/article9461664.ece
Date: January 06, 2017 Publication: India Today
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 giants 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. http://indiatoday.intoday.in/story/bnp-to-invest-euro-70-million-in-sharekhan-not-to-exit- geojit/1/850556.html
Date: January 06, 2017 Publication: The Financial Express
Sharekhan aims to double customer base in 5 years
Sharekhan on Tuesday announced that it would double its customer base in five years. After acquisition by French Bank BNP Paribas in November 2016, Sharekhan has been investing in digital technologies to drive the brand to become one of the preferred savings and investment partners in India.
Sharekhan on Tuesday announced that it would double its customer base in five years. After acquisition by French Bank BNP Paribas in November 2016, Sharekhan has been investing in digital technologies to drive the brand to become one of the preferred savings and investment partners in India.
The company on Tuesday announced that it would launch online courses for investors, hire more employees, and introduce new website, apps, advisory tool called Robo-advisor and investing platform which would leverage big data and analytics.
Sharekhan by BNP Paribas will offer a comprehensive range of products from pure brokerage to asset-based investment services including mutual funds and saving products backed by research and investor education.
Through these steps, Sharekhan aims to double its customer base in five years from 1.4 million at present. The company is also aiming to be among top 15 mutual fund distributors in the country with Rs 20,000 crore in mutual fund assets under management.
Jaideep Arora, CEO of Sharekhan by BNP Paribas, said Sharekhan has successfully leveraged the first wave of the digital opportunity when electronic trading was introduced on the stock exchanges. “Building on this strong foundation, we are now entering a new phase of growth. 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.”
Thierry Laborde, member of the group executive committee of BNP Paribas SA, pointed out that with this strategy and significant investments in technology, Sharekhan would become one of the preferred savings and investment partners for retail investors in India.
BNP Paribas has presence in 74 countries with more than 189,000 employees including 146,000 in Europe. The group has key positions in domestic markets, international financial services and corporate and institutional banking, which serves corporate clients and institutional investors. http://www.financialexpress.com/industry/sharekhan-aims-to-double-customer-base-in-5- years/498241/
Date: January 06, 2017 Publication: MyDigital FC
BNP Paribas draws up big plans for Sharekhan
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.” http://www.mydigitalfc.com/news/bnp-paribas-draws-big-plans-sharekhan-200
Date: January 06, 2017 Publication: Moneycontrol
BNP to invest euro 70 million in Sharekhan, not to exit Geojit
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 Novmxebr. 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 percent 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 percent of its 1.4 million customers being active in trading. This figure is only 17 percent for ICICI and 15 percent 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 percent 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. http://www.moneycontrol.com/news/business/bnp-to-invest-euro-70-millionsharekhan-not-to- exit-geojit_8218301.html
Date: January 06, 2017 Publication: Bloomberg Quint
BNP Paribas To Invest €70 Million In Sharekhan Over The Next 3 Years
Sharekhan’s new owner BNP Paribas, is all set to pump up its investment in the brokerage house. The French financial conglomerate will invest 70 million Euros, spread over a period of four years, with an aim to double the customer base in five years.
This is part of the group’s larger plans to invest 3 billion euros across the globe to ramp up its digital presence said Joris Dierckx, CEO and Country Head of BNP Paribas India. He added that the target is to make Sharekhan to the second spot on the list of digital equity brokers in the country, with assets under management of more than Rs 20,000 crore in the near future. http://www.bloombergquint.com/business/2017/01/05/bnp-paribas-to-invest-euro70-million-in- sharekhan-over-the-next-3-years
Date: January 06, 2017 Publication: Deccan Herald
BNP Paribas to invest 70 million Euros in Sharekhan
French bank BNP Paribas has announced that it is planning to invest significantly in its most recent acquisition in India, brokerage firm Sharekhan.
According to a top bank official, the spends could be around €70 million (over Rs 500 crore) by FY20.
“Sharekhan is planning to invest €70 million till FY20, out of which €15 million to €20 million would be spent on digital alone, in order to ensure a new website and a new mobile interface,” member of the group executive committee of BNP Paribas Thierry Laborde said.
“Our aim is to be the second biggest player in the retail brokerage space,” Laborde added.
Sharekhan is currently the third largest player in the retail brokerage space after ICICI Direct and HDFC Securities. http://www.deccanherald.com/content/590009/bnp-paribas-invest-70-million.html
Date: January 06, 2017 Publication: NDTV Profit
BNP To Invest Euro 70 Million In Sharekhan, Not To Exit Geojit
French financial power hosue 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 November. It is now a subsidiary of the globa 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," Mr 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' commitment 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. http://profit.ndtv.com/news/corporates/article-bnp-to-invest-euro-70-million-in-sharekhan-not- to-exit-geojit-1645537
Date: January 06, 2017 Publication: Afternoon Despatch & Courier
BNP Paribas plans to invest Euro 70 mn in Sharekhan
French financial powerhosue BNP Paribas yesterday said it will invest 70 mn euros more into just acquired retail broking firm Sharekhan over the next five years.
“With this ambitious strategy and significant investments in technology as well as in building an exciting brand, we will make Sharekhan by BNP Paribas one of the preferred savings and investment partners for retail investors in India. A strong digital-led approach will be at the core of the strategy, as it is in all retail activities of BNP Paribas across the world,” said Thierry Laborde, member of the Group Executive Committee of BNP Paribas S.A. At an event in Mumbai to announce their growth strategy and unveil the new logo of the company.
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.
Following the acquisition of Sharekhan by BNP Paribas, the company has planned 15-20 mn Euros investments in digital technology which will drive the brand to become one of the preferred savings and investment partners in India. The company which currently has 1.4 mn users plans to double its base by 2020. 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.
Sharekhan by BNP Paribas will make significant investments in technology, especially digital, which together with a more customer centric approach, will create unique customer journeys allowing investors access to a variety of savings and investment products.
“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 backed by best-in-class research and investor education,” said Jaideep Arora, CEO of Sharekhan by BNP Paribas. “We plan to launch a new website, mobile app, Trading platform, Investing platform, Education and New age advisory, he added. http://www.afternoondc.in/business/bnp-paribas-plans-to-invest-euro-70-mn-in- sharekhan/article_185185
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