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How AU Small Finance Bank Revolutionized Indian Banking?

banking-image
Jul 23, 2024
15 Mins

AU Small Finance Bank Limited, a prominent scheduled commercial small finance bank in India and recognized as the largest tech-driven small finance bank, is headquartered in Jaipur. Initially established as AU Financiers (India) Ltd in 1996, it transitioned into a full-fledged bank on April 19, 2017. This transformation was a pivotal milestone for both AU and the broader banking industry, signaling an adaptation to the evolving financial landscape aimed at fulfilling the unmet needs of underserved sectors.

The bank predominantly serves low and middle-income individuals alongside micro and small businesses, which generally have restricted or nonexistent access to formal banking channels. Emphasizing inclusive finance, AU Small Finance Bank offers tailored loans, deposits, and payment products, fostering financial empowerment in diverse communities.

AU Small Finance Bank has demonstrated noteworthy growth, becoming a Fortune India 500 Company in the same year it evolved into a bank and subsequently listed on the NSE and BSE. By 2019, it secured the 355th position on the Fortune India 500 list, underpinned by a robust balance sheet with assets amounting to ₹31,198.68 crore.

Significantly extending its presence, AU Small Finance Bank operates through a network of 2,383 physical touchpoints across 25 states and union territories in India. As of December 31, 2023, it employed about 46,000 individuals and served a client base of approximately 1.1 crore, deeply ingraining itself in India's financial landscape.

Their captivating ad campaigns, such as ‘Soch Badlo aur Bank Bhi’ starring Bollywood actress Kiara Advani, highlight the importance of empowered financial decision-making in modern Indian society.

On the corporate responsibility front, the AU Foundation, as the CSR wing of AU Small Finance Bank, is dedicated to empowering rural women, facilitating skill development for economically disadvantaged youth, and enhancing sports access for underprivileged children, among other initiatives. These ventures not only illustrate AU's commitment to social responsibility but also align with its overarching mission of promoting holistic community development.

In conclusion, AU Small Finance Bank's rise in the banking industry exemplifies the critical role of specialized financial institutions in catering to niche markets, effectively bridging the gap between conventional banking services and underserved Indian populations.

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Invest Smarter, Here's how to achieve Your Dreams 80% Faster - Let’s Get Started!Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

How AU Small Finance Bank Revolutionized Indian Banking?

banking-image
Jul 23, 2024
15 Mins

AU Small Finance Bank Limited, a prominent scheduled commercial small finance bank in India and recognized as the largest tech-driven small finance bank, is headquartered in Jaipur. Initially established as AU Financiers (India) Ltd in 1996, it transitioned into a full-fledged bank on April 19, 2017. This transformation was a pivotal milestone for both AU and the broader banking industry, signaling an adaptation to the evolving financial landscape aimed at fulfilling the unmet needs of underserved sectors.

The bank predominantly serves low and middle-income individuals alongside micro and small businesses, which generally have restricted or nonexistent access to formal banking channels. Emphasizing inclusive finance, AU Small Finance Bank offers tailored loans, deposits, and payment products, fostering financial empowerment in diverse communities.

AU Small Finance Bank has demonstrated noteworthy growth, becoming a Fortune India 500 Company in the same year it evolved into a bank and subsequently listed on the NSE and BSE. By 2019, it secured the 355th position on the Fortune India 500 list, underpinned by a robust balance sheet with assets amounting to ₹31,198.68 crore.

Significantly extending its presence, AU Small Finance Bank operates through a network of 2,383 physical touchpoints across 25 states and union territories in India. As of December 31, 2023, it employed about 46,000 individuals and served a client base of approximately 1.1 crore, deeply ingraining itself in India's financial landscape.

Their captivating ad campaigns, such as ‘Soch Badlo aur Bank Bhi’ starring Bollywood actress Kiara Advani, highlight the importance of empowered financial decision-making in modern Indian society.

On the corporate responsibility front, the AU Foundation, as the CSR wing of AU Small Finance Bank, is dedicated to empowering rural women, facilitating skill development for economically disadvantaged youth, and enhancing sports access for underprivileged children, among other initiatives. These ventures not only illustrate AU's commitment to social responsibility but also align with its overarching mission of promoting holistic community development.

In conclusion, AU Small Finance Bank's rise in the banking industry exemplifies the critical role of specialized financial institutions in catering to niche markets, effectively bridging the gap between conventional banking services and underserved Indian populations.

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More