AU Small Finance Bank said the RBI has approved Kotak Mahindra Bank to acquire an aggregate holding of up to 9.99% in the Mumbai-headquartered lender. The move follows an exchange filing by AU SFB confirming the regulator’s clearance for the stake acquisition, setting the stage for Kotak’s expansion into small finance banking within defined ownership limits.
AU Small Finance Bank has submitted its final application to the RBI for a universal banking licence, following a relaxation in the non-operative holding company requirement. The bank says it is ready for the upgrade on technology and product readiness after receiving in-principle approval last August, marking a major step toward becoming a full-fledged universal bank.
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AU Small Finance Bank’s Q4 net profit jumped 65% as provisions fell sharply, boosting earnings despite only modest operating profit growth. The lender saw strong loan and deposit growth, improved asset quality, and margin expansion. Still, higher expenses and treasury losses weighed on day-to-day performance, shaping a mixed earnings picture.
The Reserve Bank of India has approved Vivek Tripathi’s elevation as Executive Director at AU Small Finance Bank for a three-year term. The bank says he is transitioning from his prior role as Chief Credit Officer and will officially take charge this Friday. The move signals a leadership shift as the lender prepares for the new tenure under RBI approval.
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