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.”
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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.