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Geojit BNP Paribas Financial Services Ltd has announced the formation of a joint venture with Bank of Bahrain and Kuwait (BBK) and Kuwait-based JZ Associates LLC.
The new entity, BBK Geojit Securities will be headquartered in Kuwait City and will start operations initially with two offices. The company will meet the needs of the burgeoning NRI population in accessing the Indian Capital Markets.
As one of India's leading financial services provider, Geojit BNP Paribas Financial Services Ltd with its experience and technical capabilities, along with the established presence of BBK and the reputation of JZ Associates LLC, offers a unique opportunity to the NRI population in participating in the Indian Capital Markets.
BBK Geojit Securities KSC will offer services including brokerage services, depository services, and mutual funds of Indian stock markets.
The move by Geojit BNP Paribas Financial Services Ltd is in line with its overall strategy of ramping up its presence in the booming Middle East region. Kuwait, with over 6,00,000 NRI population is expected to be a lucrative market for the new venture and plans are afoot to increase its presence to six offices.
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