AU Small Finance Bank begins MF distribution

AU Small Finance Bank has entered into agreement with 11 asset management companies (AMCs), both domestic and international, to distribute their mutual funds. The bank is already crossselling general insurance and health insurance products. "Being a small finance bank, we have advantages of greater market presence in low and middle-income category, unserved/underserved geographies compared to other banks which provides a strong distribution platform to the AMCs," its managing director and CEO, Sanjay Agarwal, said. The bank has 304 branches in 11 states and most of the branches will be selling these mutual fund products. PTI<