AU SFB looks to double its deposit base in 3 years

AU Small Finance Bank expects to close the year with Rs 1 lakh crore of deposits should the announced merger with Fincare Small Finance Bank go through. The Jaipur-based lender expects to achieve deposits of Rs 2 lakh crore by March 2027 - its 10th year of operations, founder, MD & CEO Sanjay Agarwal said. Agarwal told TOI that while the model continues to be lending to retail, the bank may apply for a universal bank licence as this recognition would help bring down the cost of funds.

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