The banking industry is the backbone of any economy. It also acts as an important enabler and a key contributor towards capital formation and demand creation. Currently, the banking industry is at a crossroads in India. On the one hand, its strength and resilience is increasingly being put to test. On the other hand, a large underbanked population continues to offer a multitude of opportunities to the sector, particularly for a new banking enterprise like ours.
New vehicle sales in
Used vehicle sales
in FY 2018-19
Two-wheeler sales in
Number of registered MSMEs
AU Bank (Outstanding as on 31ST MARCH, 2020)
New vehicles financed
Used vehicles financed
Number of MSMEs financed
Our Financing Vintage offers scalable
Bank brand pull drives multiplier momentum – a natural pull
In this environment, the unique combination of AU franchise i.e. a) Our Financing Vintage and b) The ‘Trust and Opportunities Landscape of Banking Platform’ offers best of both worlds. AU has got the agility, swiftness and push of a financier and now for the last three years it has also got the strong ‘Trust’ and ’Pull’ of a Bank. Banking platform allows us a plethora of opportunities for cross-selling and holistically serving the customer for all their requirements.
Moreover, AU Bank’s strong balance sheet, robust liquidity and capital adequacy position, strong governance and risk management; access to diversified sources of funding, and superior digital delivery capabilities make it relatively well placed to navigate through the present challenging times.
We are constantly upskilling our team, fortifying our ‘phygital’ distribution, ensuring early adoption of newer trends and technologies, strengthening our technology architecture to driving process efficiency and customer delight. We are also broadbasing the use of our analytics platform to enhance the pace and quality of credit decisions, customer service and collections, new customer acquisitions, smoothen the onboarding process, and improve crossselling opportunities.
We believe that becoming a ‘Bank’ has helped us harness the ‘pull’ of a bank and the innate ‘push’ orientation of a financier. In the near term, we remain cautious and continue to build a strong foundation for our Bank. However, for the long term, we remain committed to steady value creation by pursuing our retail-led growth strategy.