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BNP Paribas expecting profit for brokerage in India.

Global Banking News-27 April 2009-BNP Paribas expecting profit for brokerage in India(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 27 April 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

France-based BNP Paribas (BNPP.PA) has announced that it is expecting profits at its Indian brokerage unit.

The bank said that its retail brokerage unit in India would make profits in 2009 and that it may also consider increasing its stake to more than 50 percent as early as next year. The bank also added that Geojit BNP Paribas, its retail brokerage unit in India, would open branches at a slower pace than the 50 annual launches since 2007.

BNP Paribas, which owns about 34 percent of Geojit BNP Paribas, aims to increase its stake as early as 2010.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Apr 27, 2009
Words:157
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