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AU Bank forays into Odisha with its branch launch in Bhubaneswar

Posted On: 2021-01-21 06:59:57 (Time Zone: Arizona, USA)


AU Small Finance Bank, a Scheduled Commercial Bank and one of India's fastest growing retail banks, has commenced its operations in Odisha today with the first AU Bank branch launched in Bhubaneswar. The branch located on Cuttakpuri Road was launched by the Chief Guest - Mr. Ashok Chandra Panda, MOS Social Security & Empowerment of Persons with Disability, Public Enterprises, Science & Technology in presence of Guest of Honour - Mr. Anant Narayan Jena, MLA of Bhubaneshwar Central along with Mr. Prasenjit Ukil, Regional Manager, Branch Banking and Mr. Gourab Kumar Pattnaik, Branch Manager, Bhubaneswar branch.

Over the past few months AU Bank has steadily increased its reach in multiple new states including Karnataka, Uttar Pradesh, West Bengal and now, Odisha. With the launch of this branch, AU Bank now has over 730+ banking touchpoints in 15 states and 2 union territories.

Speaking on the occasion, Mr. Uttam Tibrewal, Executive Director, AU Bank, said, "Last year AU Bank embarked on its journey to the Eastern states starting with Kolkata and this year we are delighted to take this journey ahead with Odisha. The stunning architectures, rich history, vibrant art and mesmerizing music & dance forms make Odisha a culturally rich state. Bhubaneswar is one of the earliest planned cities of Independent India which makes it a hub of education and industries while retaining its cultural richness. We are excited to contribute to the city's progress and are looking forward to serving the residents of Bhubaneswar who are known for their warmth. I am confident that they will experience the same feeling of warmth from AU Bank. AU has a 25-years legacy of being a retail focused and customer centric institution. This is an important step in our journey to becoming a bank with a pan India presence. As a digitally focused bank, we will aim to offer more convenient banking and tailored solutions to the residents of this city."

Since the inception of its banking services, AU Bank has designed products and services keeping in mind the needs and challenges of the customers. The simplified digital banking services offered by AU Bank include Savings Account and FDs through contactless video banking; Instant Savings Account by WhatsApp Banking; QR Code and POS for Payment Services; BHIM UPI; BBPS for Bill Payment (BBPS); Missed call banking; Tab Banking; AU ABHI instant self-onboarding Bank Account, chatbot, new and improved netbanking and Mobile Banking etc. Apart from this, the Orissa branch will offer all other banking services like Savings Account, Current Account, Fixed Deposit, Locker, Mutual Fund, Insurance etc.

In almost four years as a bank, AU has built a solid Net Worth of Rs 4,900 Cr+, strong Deposit base of almost Rs. 27,000 Cr. and a Loan AUM of Rs. 30,500 Cr+. The bank is listed on both the major exchanges NSE and BSE. Despite the unprecedented challenges faced in the year, AU Bank continued to perform well on all fronts, such as deposit growth, liquidity management, asset quality, digital banking, inclusive banking, customer engagement and employee security.

Shares of AU Small Finance Bank Ltd was last trading in BSE at Rs.912.95 as compared to the previous close of Rs. 920.65. The total number of shares traded during the day was 31503 in over 2692 trades.

The stock hit an intraday high of Rs. 927.9 and intraday low of 904.6. The net turnover during the day was Rs. 28779631.


Source: Equity Bulls

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