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In its rationale behind the deal, AU says the merger deal is complementary as it’ll help the lender become a “truly pan India Small Finance Bank”. It’ll also help diversification of portfolio, with access to rural and financial inclusion focused microfinance business.”
AU Small Finance Bank, which has the highest m-cap among small finance banks in India, has total assets of ₹95,977 crore, net worth of ₹11,763 crore as of September 30, 2023. Its turnover was ₹9,240 crore, profit was ₹1,428 crore for the year ended on March 31, 2023.
Fincare Small Finance Bank has assets worth ₹14,777 crore, a net worth of ₹1,539 crore, a turnover of ₹1,360 crore and a profit of ₹219 crore as of September 30, 2023. Its total assets were worth ₹12,467 crore, while net worth was ₹1,314 crore, turnover was ₹1,970 crore, and profit was ₹104 crore for the year ended on March 31, 2023.
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