Calcutta, June 2 :     Ten years after it closed down its retail banking operations in India, BNP Paribas is set to begin its second innings. The bank will also set up two separate subsidiaries for e-broking and insurance sector as part of its strategic expansion plan in India. Euroland's largest bank with a balance sheet size of 960 billion euros has already received approval from the Reserve Bank of India to float a subsidiary which will be a primary dealer in government securities; the services are expected to begin a couple of months. Jerry Rao's Mphasis and Chlorophyl are two consultants roped in to draw up a branding strategy for its retail push. Addressing a press conference to mark the inauguration of BNP Paribas' fully renovated office in the city, chief executive officer and country manager Jonathan Lyon said the bank hopes 20 per cent of its revenues will come from retail operations by the third year of operations when it expects to break even on its investments that run into about Rs 300 crore BNP Paribas has zeroed in on a unique way of turning itself into the preferred one-stop-shop for the Indian depositor in the overcrowded retail banking market. Lyon said that instead of going through a painfully slow branch expansion, BNP Paribas will offer retail services through boutiques set up across the length and breadth of various cities. The boutiques will offer various service like ATM, e-broking facility and a connection to the banking centre and other retail products. The retail service will initially be launched in four metros and later in other branches. Currently, it has a network of eight branches and a ninth will be opened soon in Bandra. The bank is also finalising a strategic alliance to begin e-broking through which it will provide internet based on-line trading at the leading stock exchanges. It is also finalising its e-commerce strategies and plans to provide B2B and B2C services. BNP Paribas India has a balance sheet size of over Rs 2000 crore with about Rs 22.5 crore profits last year and is looking at an over 20 per cent growth this year as well. It already has an interactive web site in place where both corporate and private banking clients can transact on the net. BNP Paribas's subsidiary, Cardiff Insurance, the third largest French insurer with a dynamic global presence, will be the vehicle for its entry into the Indian life insurance sector . With a strong presence in India's leading eight cities throughout the country, BNP Paribas India has also successfully launched private banking recently, providing personalised banking services to high net worth individuals. The bank launched its private banking recently and manages assets of Rs 600 crore under this portfolio. Through its sister company, BNP Paribas Peregrine India, it offers investment advisory and brokerage services through its own broking services. The bank has retailed mutual fund instruments of up to Rs 500 crore in the last four months. A whole range of retail products and services are being finalised to be launched by the end of this calendar year. These include debit card, tele-banking, 24 hour, seven-day banking and a wide gamut of personal loans that will include consumer loans and auto loans. 'The retail banking sector presents a tremendous growth opportunity and with our essential focus on customers needs we are confident of being able to provide a unique package for the individual,' Lyon said.