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AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank [2] and India’s largest [3] tech-led [4] small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC , AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.
As the company transformed into a Small Finance Bank on 19 April 2017, he became the Managing Director & CEO of AU Small Finance Bank. [5] In 2017, the IPO of the AU Bank was oversubscribed by more than 53 times. As of May 2021, the bank has a valuation of close to ₹ 30,000 crore (US$4 billion).
In a first, RBI accepted October 2023 proposal of amalgamation of Fincare Small Finance Bank into AU Small Finance Bank. The combined entity to rename Fincare into AU from April 1, 2024 and the shareholders of Fincare to receive 579 AU shares for every 2000 shares held. This eliminates Fincare's regulatory need to be listed.
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This article mentions microfinance and AU Small Finance Bank, but it is saying that eight of the ten companies granted bank licenses were involved in microfinance, and AU was one of the two that were not involved in microfinance. Jack N. Stock 04:08, 15 March 2018 (UTC)
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This page was last edited on 28 November 2024, at 02:05 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Banking in Australia is notable by the small number of large banks in the market. Much of this concentration is the result of bank acquisitions. English, Scottish and Australian Bank was acquired by the ANZ Bank in 1970. In 1982, Bank of New South Wales merged with the Commercial Bank of Australia to form Westpac. There were many other bank ...