AU Small Finance Bank surges on launching innovative Credit Card product ‘LIT’
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AU Small Finance Bank is currently trading at Rs. 619.70, up by 20.35 points or 3.40% from its previous closing of Rs. 599.35 on the BSE.
The scrip opened at Rs. 601.00 and has touched a high and low of Rs. 621.50 and Rs. 595.50 respectively. So far 23173 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. 629.05 and Rs. 595.45 respectively. The current market cap of the company is Rs. 38948.67 crore.
The promoters holding in the company stood at 28.23%, while Institutions and Non-Institutions held 53.10% and 18.67% respectively.
AU Small Finance Bank has launched an innovative Credit Card product that brings a revolutionary change in the credit card landscape. The AU Bank LIT (Live-It-Today) Credit Card offers a unique value proposition to cardholders - to choose the features they want and for the time period they want.
With the LIT Credit Card, the Bank has put the power to choose these features in the hands of the customers - all categories in one card. Further, they also get the freedom to switch on or off these features as per their changing lifestyle requirements. LIT credit card provides a higher degree of engagement to customers, through the AU0101 app as they can track their saving/earnings daily to maximize their benefits. Most importantly, the card hosts multiple benefits and customers can activate any feature on-the-go in real time for a small convenience fee. LIT provides the cardholder a complete control on its offers and fee that they pay for those offers in a clear, transparent manner and saves the cardholders multitudes of annual/renewal fee for benefits they don't use. Cardholders can avail the best of both Cashbacks and Reward Points, using the features that are offered. The default validity period for each feature is 90 days.
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.
