Au SFB to sell insurance products
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.