The Boards of Directors at AU Small Finance Bank Ltd (AU SFB) and Fincare Small Finance Bank Ltd (Fincare SFB) have agreed upon an all-stock merger, a decision made in their respective meetings yesterday. According to the merger terms, shareholders of Fincare SFB will receive 579 shares of AU SFB for every 2,000 shares of […]
AU Small Finance Bank (AU Bank) exhibited a consistent operating outcome in Q2’FY24, navigating a challenging macro backdrop with liquidity constraints and ongoing inflation. The bank marked a 30% YOY rise in deposits, a 24% YOY surge in advances, and a 17% YoY increment in net profit. Return on Assets (RoA) and Return on Equity […]
AU Small Finance Bank Limited recorded a significant increase in pre-provisioning operating profit (PPoP) for Q1’FY24 with a 39% year-on-year (YoY) growth, bringing it up to ₹546 Crore from ₹394 Crore in Q1’FY23. The bank also reported a YoY net profit growth of 44%, reaching ₹387 Crore in Q1’FY24 from ₹268 Crore in the same […]
AU Small Finance Bank (AU Bank), a scheduled commercial bank in India, has entered into a bancassurance deal with ICICI Prudential Life Insurance to provide life insurance solutions to its customers based on their requirements and goals. The partnership with the private life insurance company is expected to help AU Small Finance Bank offer paperless, […]