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AU Small Finance Bank Limited ( (IN:AUBANK) ) has provided an announcement.
AU Small Finance Bank Limited announced that CARE Ratings Limited has reaffirmed its credit ratings, maintaining a ‘CARE AA; Stable’ rating for its long-term debt instruments and a ‘CARE A1+’ rating for its short-term instruments. The reaffirmation reflects the bank’s robust capitalisation and profitability, although there is a noted increase in credit costs due to the integration of Fincare Small Finance Bank’s portfolio. The bank’s asset quality remains a concern with an increase in non-performing assets, particularly in microfinance and credit card segments. Despite these challenges, AU Small Finance Bank has received in-principle approval from the Reserve Bank of India to transition to a Universal Bank, indicating potential for future growth and expansion.
More about AU Small Finance Bank Limited
AU Small Finance Bank Limited operates in the financial services industry, primarily focusing on providing banking services. It is recognized as the largest small finance bank in India, offering a range of financial products including loans, deposits, and other banking services. The bank has shown consistent growth in its business and asset base, supported by strong capitalisation and profitability.
Average Trading Volume: 227,938
Technical Sentiment Signal: Buy
Current Market Cap: 597.8B INR
See more data about AUBANK stock on TipRanks’ Stock Analysis page.