AU Small Finance Bank partners with a leading insurance company!

AU Small Finance Bank partners with a leading insurance company!

by 5paisa Research Team Last Updated: Dec 16, 2022 - 09:01 pm 6.5k Views

The partnership will enrich the bank's life insurance offerings.

AU Small Finance Bank and HDFC Life have entered into a corporate agency arrangement for soliciting insurance plans for HDFC Life through the bancassurance business model.

This partnership would enable diverse customers of AU Small Finance Bank to access the entire range of life insurance products offered by HDFC Life, thus fulfilling their need for financial protection. The said arrangement will aim to further enrich the Bank’s life insurance offering by enabling its customers to access the digital platform and the touch points of HDFC Life for servicing.

AU Small Finance Bank (AU SFB) Ltd is engaged in the business of banking and financial services including retail banking, wholesale banking, and treasury operations, and provides various types of loans like vehicle loans and personal loans.

AU SFB is rapidly expanding its customer base adding one million customers every year supported by a growing distribution footprint of 1,000 touchpoints spread across 20 states and 2 union territories.

Today, the stock opened at Rs 656.55, with a high and low of Rs 676.10 and Rs 656.55. Today it closed the trading session at Rs 666.75, down by 0.32%.

In the last six months, the shares of the company have given 7.62% returns and on a YTD basis, the stock has given 25.97% returns.

The stock has a 52-week high of Rs 732.90 and a 52-week low of Rs 467.50. The company has a ROCE of 7.19% and an ROE of 16.6%, with a market capitalization of Rs 44,434.51 crore.

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