AU Small Finance Bank gains on entering into Bancassurance tie-up with ICICI Lombard General Insurance
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AU Small Finance Bank is currently trading at Rs. 651.55, up by 0.75 points or 0.12% from its previous closing of Rs. 650.80 on the BSE.
The scrip opened at Rs. 645.50 and has touched a high and low of Rs. 653.00 and Rs. 645.50 respectively. So far 53257 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 732.90 on 21-Apr-2022 and a 52 week low of Rs. 467.50 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 655.40 and Rs. 625.80 respectively. The current market cap of the company is Rs. 43438.19 crore.
The promoters holding in the company stood at 25.58%, while Institutions and Non-Institutions held 59.83% and 14.57% respectively.
AU Small Finance Bank has entered into a Bancassurance tie-up with ICICI Lombard General Insurance. The partnership will provide the Bank’s diverse customers access to the insurer’s portfolio and enhance penetration across India.
The Bank is rapidly expanding its distribution footprints across India and this tie-up between two giants in their respective industries will aim to further enrich its general insurance offering with agile, digital & paperless solutions offered by ICICI Lombard. The entire suite of products will be offered across 980 plus banking touch points spread over 20 states & 2 union territories. The customer centric products will provide long term financial security to customers and their families. With both organizations believing in offering the best to the customers through innovation and consistency, this partnership would offer customers the best of both worlds.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
