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AU Remit : AU Small Finance Bank aims to double balance sheet to Rs 2 5 lakh cr in 3 years: MD Sanjay Agarwal

AU Small Finance Bank is set to double its balance sheet size to Rs 2.5 lakh crore in three years, driven by the acquisition of Fincare SFB and the growing consumption trend in India. The bank has operationalized an Authorised Dealer (AD-I) license, foray in forex with AU Remit and cross-border trade with AU DigiTrade . The bank s managing director, Sanjay Agarwal, aims to achieve a 25% growth rate in the next three years and double its balance sheet size to Rs 2.5 lakh crore by the end of its one decade of existence.

Sanjay agarwalAu small finance bankFincare small finance bankFinance bankAuthorised dealerCross border tradeReserve bankSouth indiaSmall finance banksU remitBalance sheetFincare sfbBanking servicesReserve bank of india

AU Small Finance Bank aims to double balance sheet to Rs 2 5 lakh cr in 3 years: MD

AU Small Finance Bank (AU SFB) on April 1, amalgamated Fincare Small Finance Bank (Fincare SFB), marking the first such consolidation in the sector.

Sanjay agarwalFincare small finance bankAu small finance bankFinance bankAuthorised dealerCross border tradeReserve bankSouth indiaSmall finance banks

AU Small Finance Bank aims to double balance sheet to ₹2 5 lakh cr in 3 years: MD

AU Small Finance Bank aims to double balance sheet to ₹2 5 lakh cr in 3 years: MD
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Sanjay agarwalFincare small finance bankAu small finance bankFinance bankAuthorised dealerCross border tradeReserve bankSouth indiaSmall finance banks

universal bank license: Only AU Small Finance Bank eligible to apply for universal bank license now

AU Small Finance Bank, the largest lender of the pack, has met all the eligibility criteria set by the regulator. AU has Rs 12,560 crore of net worth, made profits for the last two fiscals, and its gross and net non-performing assets were less than 3% and 1% respectively during the period as prescribed by RBI. It also has a well-diversified loan book as desired by the regulator.

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RBI shares guidelines norms for voluntary conversion of SFBs into universal banks

The central bank has said the SFBs aspiring to become a universal bank need to have scheduled status with a satisfactory track record of performance for a minimum period of five years.

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