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AU Small Finance Bank gets RBI nod to become a universal bank
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....U Small Finance Bank gets RBI nod to become a universal bank<BR>FEMA / RBI<BR>Dated:- 7-8-2025<BR>PTI<BR>Mumbai, Aug 7 (PTI) The Reserve Bank on Thursday said it has decided to grant 'in-principle' approval to AU Small Finance Bank for transition into a universal bank. After getting the SFB licence in 2015, AU Financiers commenced its journey as a small finance bank in April 2017. With the RBI....
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.... notification, AU becomes the first Small Finance Bank in India to receive this in-principle approval to become a universal bank. The application for this transition was submitted on September 3, 2024, under the RBI's 'on tap' licensing guidelines (August 2016) and April 2024 framework for the voluntary conversion of small finance banks to universal banks. This regulatory approval is a strong ....
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....validation of AU's robust business model, sound governance, and enduring commitment to financial inclusion, AU Small Finance Bank said in a statement. More importantly, it affirms AU's evolution into a complete bank, one that offers a full spectrum of banking products and services that today's customer expects, spanning retail, business, and digital solutions. Commenting on the development, th....
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....e bank's MD and CEO Sanjay Agarwal said, "We have made history by receiving in-principle approval from the Reserve Bank of India to transition into a universal bank. This milestone is a reaffirmation of our purpose, perseverance, and passion." "This in-principle approval acknowledges not just our ability to grow, but to grow responsibly. It is a testament to AU's strength in reaching widely, int....
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....egrity in serving wisely, and resilience to shine across economic cycles," he added. AUSFB has a network of over 2,505 banking touchpoints across 21 states and 4 Union Territories. It has a customer base of over 1.15 crore and a workforce of more than 53,000 at end-June 2025. As on June 30, 2025, the bank has a shareholders funds of Rs 17,800 crore, deposit base of Rs 1,27,696 crore, total loa....
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....n portfolio of Rs 1,17,624 crore and a balance sheet size of Rs 1.60 lakh crore. For the first quarter ended June 30, the Jaipur-based bank AU Small Finance Bank posted a 16 per cent growth in net profit to Rs 581 crore as against Rs 503 crore in the same quarter of the previous fiscal year. The total income rose to Rs 5,189 crore during the June 2025 quarter from Rs 4,278 crore in the same pe....
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....riod of FY25. PTI DP NKD HVA<BR> News - Press release - PIB....