AU Small Finance Bank
AU Small Finance Bank Limited, an Indian scheduled commercial small finance bank and India’s largest tech-led small finance bank, is based in Jaipur. Founded as AU Financiers (India) Ltd in 1996, it transformed into a full-fledged bank on April 19, 2017. This conversion marked a significant milestone, not just for AU but also for the banking industry, reflecting the evolving financial landscape in India tailored to meet the needs of under-served sectors.
AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking channels. By focusing on inclusive finance, the bank provides loans, deposits, and payment products and services that cater specifically to its target demographic, aiding in the financial empowerment of numerous communities.
In terms of performance, AU Small Finance Bank has shown remarkable growth. It first became a Fortune India 500 Company in the same year it transformed into a bank and got listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). By 2019, it ranked 355th on the Fortune India 500 list, boasting a strong balance sheet with assets totaling ₹31,198.68 crore.
The bank has expanded its footprint significantly with a network of 2,383 physical touchpoints across 25 states and union territories in India. With about 46,000 employees and a client base of around 1.1 crore as of December 31, 2023, AU Small Finance Bank has made deep inroads into the financial landscape of India.
Audiences are also captivated by their engaging ad campaigns, like ‘Soch Badlo aur Bank Bhi’ featuring Bollywood actress Kiara Advani, which emphasize the role of empowered financial decision-making in contemporary Indian society.
On the corporate responsibility front, the AU Foundation, the CSR wing of AU Small Finance Bank, focuses on empowering rural women, skill development for economically backward youth, and enhancing sports for underprivileged children, among other initiatives. These efforts not only demonstrate AU’s commitment to social responsibility but also align with its broader mission of facilitating comprehensive community development.
Conclusively, AU Small Finance Bank's ascent in the banking sector illustrates the vital role of specialized financial institutions that cater to niche market segments, helping bridge the gap between traditional banking services and the underserved populations of India.