AU Small Finance Bank
|Traded as||BSE: 540611|
|Industry||Banking, Financial services|
|Headquarters||Jaipur, Rajasthan, India|
|Mr. Mannil Venugopalan (Chairman) Mr. Sanjay Agarwal (MD & CEO)|
Number of employees
AU Small Finance Bank is an Indian commercial bank that was founded as vehicle finance company Au Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. It ranks 469 in the Fortune India 500 (2017) companies, with annual revenue of Rs.2,041.82 crores (US$314 million) and assets of Rs.9,186.28 crores (US$1411 million).
The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. The bank has operations in 10 states. As of July 2017, AU Small Finance Bank had 301 bank branches, with plans to expand to over 430 branches by the end of 2018.
In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.
References[edit | edit source]
- Mudgill, Amit (28 June 2017). "AU Small Finance Bank IPO; here's what 8 brokerages say". The Economic Times. Retrieved 15 March 2018.
- "AU Small Finance Bank - Fortune 500 List 2017". Fortune India. Retrieved 4 March 2018.
- Babla, Shraddha (11 July 2017). "After 51% Listing Gains, AU Small Finance Bank India's Most Expensive". Bloomberg Quint. Retrieved 15 March 2018.
- Dey, Madhuchanda (12 March 2018). "Time to look at high quality niche players – AU Small Finance & MAS Financial". Moneycontrol. Retrieved 15 March 2018.
- Sonavane, Ravindra (10 July 2017). "AU Small Finance Bank shares close 51% higher on stock market debut". livemint. Retrieved 15 March 2018.
- Karayamparambil, Jescilia (20 June 2017). "AU Small Finance IPO to hit market". Free Press Journal. Retrieved 15 March 2018.
- Srivats, K.R. (2 November 2017). "AU Small Finance gets scheduled commercial bank status". The Hindu Business Line. Retrieved 15 March 2018.
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