AU Small Finance Bank
AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank, headquartered in Mumbai. It was founded in 1996 as a vehicle finance company and was converted into a small finance bank in 2017. In the same year, it got listed on National Stock Exchange and Bombay Stock Exchange.
History
The company was founded in 1996 by chartered accountant Sanjay Agarwal as AU Financiers Ltd, a vehicle finance company and NBFC. It converted into a full-fledged small finance bank on 19 April 2017.AU Small Finance Bank publicly listed with an IPO on 29 June 2017. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, sold their holdings after the listing.
In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks.
On 1 April 2024, AU Small Finance Bank completed the acquisition of Fincare Small Finance Bank through a stock swap merger, the first merger involving two small finance banks.
On 7 August 2025, the Reserve Bank of India granted an in-principle approval to AU Small Finance Bank to transition into a universal bank, making it the first small finance bank in India to receive such an approval. It was also the first full-fledged banking license issued by the Reserve Bank of India in 11 years.