Nikhil Kamath and Nithin Kamath: Online share trading platform Zerodha has earned a lot of name in the last few years. Zerodha founders Nikhil Kamath and Nithin Kamath have made this company quite popular due to their activism on social media. In the financial year 2024, the company’s profit has increased by 62 percent to Rs 4700 crore and revenue has increased by 21 percent to Rs 8320 crore. Now the company is moving towards the next goal. Kamat Brothers are now considering making Zerodha a bank.
Trying to get bank license for many years
Nikhil Kamat recently said that he is seriously considering making Zerodha a bank. He has been trying for this for years but has not been able to achieve success yet. Nikhil Kamat said that we are not able to get a bank license. Zerodha is the second largest company in the stock broking market after Groww. While Grow has 25.1 percent market share, Zerodha has 17 percent market share.
Having to compete with big players in the financial sector
Nikhil Kamat said in an interview to CNBC TV 18 that what will we do with so much money. We don’t want to sit and relax. We want to become a bank but are not able to succeed in this work. He tells Zerodha as a story like David versus Goliath. He said that we are progressing rapidly but we also have to compete with big players in the financial sector. They have a lot of money and resources. At the same time, we are moving forward with a small team.
Also exploring possibilities in public market investment and insurance sector
Zerodha CEO Nitin Kamar said that another big problem for us is the constantly changing rules of SEBI. SEBI’s new rules regarding F&O (Futures and Options) are going to come into effect in November. These can impact the total business of the company by 30 percent and the F&O business by about 60 percent. He said that we are bound by regulatory rules. This is the reason why we want to take our business to different sectors. Banking license is our priority. Apart from this, we are also exploring possibilities in public market investment and insurance sector.
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