AU Small Finance Bank
| Aubank.jpg | |
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| Traded as | BSE: 540611 NSE: AUBANK |
|---|---|
| ISIN | 🆔 |
| Industry | Banking, Financial services |
| Founded 📆 | 1996 |
| Founder 👔 | |
| Headquarters 🏙️ | Jaipur, Rajasthan, India |
Area served 🗺️ | India |
Key people | Mr. Mannil Venugopalan (Chairman) Mr. Sanjay Agarwal (MD & CEO) |
| Members | |
Number of employees | 8,515 (2017) |
| 🌐 Website | https://www.aubank.in/ |
| 📇 Address | |
| 📞 telephone | |
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.[1] 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).[2]
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.[1] On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book.[3] The bank has operations in 10 states.[4] 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.[5][6]
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.[7]
References[edit]
- ↑ 1.0 1.1 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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