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Former Karnataka CM Sadananda Gowda inaugurates AU Small Finance Bank’s new branch in Sanjay Nagar

Bengaluru, 14th March 2024: AU Small Finance Bank (AU SFB), India’s largest SFB, today inaugurates its new branch at Sanjay Nagar, Bengaluru, which is the Bank’s 12th branch in Karnataka. This launch signifies AU SFB’s targeted offerings for the Bengaluru city and its commitment to delivering accessible and technology-driven financial services across South India. The inauguration was done by former Chief Minister of Karnataka D. V. Sadananda Gowda and senior officials of AU SFB.

The strong economy of Karnataka makes it a significant market offering high potential of deposits and credit. Bangalore alone contributes to around Rs 9 lakh crores of deposits of the state and remains a key city in AU SFB’s expansion plan in South India. Sanjay Nagar is an appealing strategic locality with well-planned infrastructure, luxury residential projects, high-class educational institutes, and healthcare facilities.

Speaking on the occasion, former Chief Minster of Karnataka, D. V. Sadananda Gowda said, “Bengaluru is an industrial hub that is contributing a great deal to the economy of our state as well as the nation. Over the years, AU Small Finance Bank has gained reputation of bringing customer centric banking solutions bundled with tech advancements. With this branch, I am sure the residents of Sanjay Nagar stand to benefit from that. As more and more industrial leaders as well as common man gain access to better banking, it will help add up to the prosperity of our state.”

Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, “As a customer-centric bank, we strive to serve customers in Bengaluru with our unique proposition while fostering long-term relationships. To date, the positive response and trust from our tech-savvy clientele in Bengaluru have instilled confidence in us to extend our presence. At Sanjay Nagar branch, we aim for the customers to enjoy the advantages of our flagship features, such as monthly interest payout on savings accounts, extended banking hours, 24x7 video banking, vehicle loans, business banking, FDs/Green FDs, credit cards, construction funding to real estate developers, along with meticulously crafted wealth management products.”

As of December 2023, the Southern region has surpassed Rs 3,000 crore in the deposit book of AU SFB, instilling confidence of AU SFB to scale up its operations in South India. The bank aims to reach approximately 37 branches in South India by March 2024.

About AU Small Finance Bank
AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established itself as the largest SFB in India since starting its banking journey in April 2017. Established in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU SFB boasts a 28 years-legacy with deep understanding of the rural and semi-urban markets and customer segments. The Bank operates a sustainable business model that facilitates credit to the unserved and underserved retail and MSME customer segments while providing complete banking solutions to its deposit and branch banking customers. As a tech-led Bank, AU has a strong digital presence with innovative products and services like 24X7 video banking, credit cards, personal loans, UPI QRs, payments, merchant lending, WhatsApp Banking, Chatbots etc. and its digital bank application AU0101 remains among the higher rated banking apps in India.

The Bank operates from 1,049 banking touchpoints across 21 States & 3 Union Territories serving 46.8 Lac customers with an employee base of 28,904 employees. As on 31st Dec’23, the Bank has a net worth of ₹12,167 Crore, deposit base of ₹80,120 Crore, Gross Advance of ₹67,624 Crore and a Balance sheet size of ₹1,01,176 Crore. AU SFB enjoys the trust of marquee investors and is listed at both NSE and BSE. It has consistently maintained high external credit Rating and is presently rated ‘AA/Stable’ by CRISIL, CARE Ratings and India Ratings, while the Bank’s FD is rated ‘AA+/Stable’ from CRISIL Ratings.