IDBI eyeing retail broking

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Eyeing opportunities in the untapped retail broking business, IDBI Capital Market Services proposes to capture this segment through 5,000-plus bank branches and online trading platform.

To support its online trading portal ‘IDBIpaisabuilder’, the bank has tied up with 5,004 CBS branches of leading lenders like Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), and Bank of Rajasthan.

The company will market IPOs, equity and mutual funds investment to retail investors across the nation through the internet portal

“Retail broking has huge potential considering the fact that only four per cent of household assets are invested in equities and mutual funds as compared to 40 per cent worldwide,” IDBI Capital managing director and CEO Sushil Muhnot said.

IDBI Capital’s online trading page boasts of features that enable investors to access live market data while placing an order for buying or selling.

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