Au SFB to sell in­sur­ance prod­ucts

Banking Frontiers - - Pb-sfb -

Au Small Fi­nance Bank pro­poses to sell health in­sur­ance prod­ucts of Aditya Birla Health In­sur­ance as part of a cor­po­rate agency tie-up agree­ment. The bank said this tie-up will be ben­e­fi­cial for both the com­pa­nies mu­tu­ally in terms of busi­ness, mar­ket pen­e­tra­tion as well as reach. The bank pro­vides sav­ings and cur­rent ac­counts, term de­posits, debt cards, in­sur­ance, re­tail loans as well as whole­sale bank­ing. The bank had com­menced the small fi­nance bank­ing op­er­a­tions in April 2017 and later in July launched its IPO. The bank has also recorded a net profit of `61.83 crore for the first quar­ter of the cur­rent fi­nan­cial year. Its to­tal as­sets as on 30 June 2017 stood at `10,972.83 crore.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.