Doubled client base to 3.75 million in 11 months Mumbai, Maharashtra, India – Business Wire India Angel Broking, one of the largest brokerage houses in the country, continues to witness record operating parameters in February 2021. The company has more than doubled its client base to ~3.75 million clients in February 2021 from ~1.82 million in FY20.
The digital first approach has enabled Angel Broking to deepen its penetration further into Tier 2, 3 and beyond cities and accelerate its gross client addition. In February 2021, the company achieved highest gross client addition of just over 0.29 million customers, translating into 350.1% YoY growth. This was the third consecutive month where it added more than 0.20 million clients in a month and third consecutive quarter where over 0.50 million clients were added in a quarter. Angel Broking’s robust client addition led to improved client activity which is witnessed in record high Average Daily Turnover at over Rs. 4 lakh crore in February 2021, higher 24% over January 2021 and higher by 498% over February 2020.
Angel Broking’s focus on using technology to its advantage across client acquisition to engaging with them digitally has yielded positive results from deeper penetration into Tier 2, 3 and beyond markets, attracting millennials and broadening the breadth of the retail participation in India’s stock market.
Mr. Prabhakar Tiwari, Chief Growth Officer, Angel Broking said, “The early technological interventions we undertook, laid the foundation for giant leaps we achieved for our business. All pieces had to fall into place at the right time, and our holistic approach towards our targeted growth avenues have yielded positive results. We are now excited about achieving the next set of targets and exceed our potential.” Mr. Vinay Agrawal, Chief Executive Officer, Angel Broking said, “The past one year has been a remarkable phase for Angel Broking and we are pleased that we were able to generate services of value for all our customers. The numbers assure us that we are on the right track. The company shall continue making attempts at bringing the best of human capital and tech-driven solutions to the fore. Going forward, we look forward to expanding our client base across geographies and widen our product bouquet while keeping best customer experience at the core.” Over the years, Angel Broking invested in transforming to a truly digital player, launched online trading platform, trading apps and digital investment advisory services etc. Consequently, the company reaped rewards in the form of exponential growth in its mobile app downloads, client base across different Tiers, improving market share and growing profits. It has launched several unique offerings for customers including Smart Money (education), SmartAPI (automated trading), International Investing in partnership with Vested and ARQ Prime (investment engine) among several others.
About Angel Broking Limited Angel Broking Limited (ABL) is one of the largest retail broking houses in India in terms of active clients on NSE. ABL is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and financial products distribution to its clients under the brand “Angel Broking”. Broking and allied services are offered through (i) online and digital platforms, and (ii) network of over 14,000 Authorized Persons.
ABL had more than 7 mn downloads of Angel Broking mobile application and over 1 mn downloads of Angel BEE mobile application, which enable clients to avail services digitally. Our customer outreach spans across approximately 97.6% or 18,797 pin codes in India. ABL manages ~₹ 236,960mn in client assets and over 3.75 mn operational broking accounts.
Website - www.angelbroking.com PWR PWR