BNP Paribas has said that BNP Paribas SA will acquire 100 per cent in one India's largest broking entity, Sharekhan.
Sharekhan will join BNP Paribas' Personal Investors division, which is a key player in retail brokerage and digital banking services with 1.7 million clients in Europe.
With 7% market share in terms of number of accounts, Sharekhan is the 1st independent and 3rd retail brokerage firm in India. Internet focused since its creation in 2000, it is today one of the most well-known online brands in India and has been constantly profitable over the last twelve years.
Joris Dierckx, Country Head of BNP Paribas India stated, "We are very pleased to welcome all Sharekhan staff and clients into our group. Sharekhan will serve as a platform for the Group's strategy in India to offer a comprehensive range of products from pure brokerage to asset based investment services including mutual funds and savings products. The purchase of Sharekhan is a unique opportunity for us to build on our achievements in the Indian market and to further expand our business in India."