Indian scheduled commercial bank AU Small Finance Bank is planning to reach universal bank status in two or three years, Sanjay Agarwal, CEO and managing director of AU Small Finance Bank said.
A bank reached universal bank status when it can offer three types of banking: wholesale, retail and investment banking under one roof. AU Bank reached the small finance bank status in 2017. A bank has to function for a minimum of five years to become a universal bank.
RV Verma, Chairman of AU Small Finance Bank said in a meeting with shareholders, “We are looking far beyond the current status of the bank in the SFB space. It was propelling the Bank’s journey to the next important milestone in the bigger banking space with an aspiration to serve all sectors and segments of the economy for national development and growth”
On Wednesday, AU Bank launched a new marketing campaign called ‘BadlaavHumseHai’ with Aamir Khan and Kiara Advani as brand ambassadors. The campaign was launched to get more visibility in the banking sector.
The bank also introduced its mobile application ‘AU 0101’ which provides several digital banking services. The app also allows customers to have a face to face interaction with bankers through video calls.