BNP Paribas announces that an agreement has been reached with the company’s shareholders for BNP Paribas SA to acquire 100% of Sharekhan.
BNP Paribas has been present in India for over 150 years and offers solutions to its clients through its Corporate and Institutional Banking and International Financial Services activities.
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.
Based in Mumbai, Sharekhan, the n°1 independent retail brokerage firm in India, offers broking solutions across all asset classes to more than 1.2 million private clients.
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.”
The completion of the transaction is subject to regulatory approvals.
About BNP Paribas in India
BNP Paribas was one of the first foreign banks to establish a presence in India in 1860. Today, it is among the leading corporate banks in the country, with branches in eight major cities. BNP Paribas offers a wide range of financial services covering corporate and institutional banking, transaction banking and wealth management. In addition, BNP Paribas has subsidiaries and strategic partnerships that offer solutions from International Financial Services businesses.
About BNP Paribas
BNP Paribas has a presence in 75 countries with more than 185,000 employees, including 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services (comprised of Domestic Markets and International Financial Services) and Corporate & Institutional Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
(+91) 22 6196 5301