AU Small Finance Bank has appointed Anil Agarwal as Senior Executive Group Head - Commercial & Institutional Banking. The board approved the move on September 14, 2026, categorizing him as Senior Management Personnel (SMP).

The appointment follows a recommendation from the Nomination and Remuneration Committee. Agarwal’s tenure begins immediately on September 14, 2026.

Leadership Profile

Agarwal is a Rank Holder Chartered Accountant and Cost & Management Accountant. He holds a bachelor’s degree in commerce from Lucknow University, where he was a Silver Medalist.

He brings nearly three decades of experience across commercial and institutional banking, transaction banking, government business, corporate banking, financial institutions, and capital markets.

Career Background

Agarwal spent over two decades at Axis Bank, holding several senior leadership positions. During this period, he played a pivotal role in building and scaling multiple businesses across diverse client ecosystems.

His responsibilities at Axis Bank included:

• Financial Institutions
• Government Business
• Transaction Banking
• Strategic Client Coverage
• Corporate Banking
• Priority Sector Lending Strategy

Prior to his stint at Axis Bank, Agarwal worked with IFCI in Project Finance and Credit.

Regulatory Disclosure

The bank made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Manmohan Parnami, Company Secretary and Compliance Officer, signed the disclosure.

The Reserve Bank of India has approved AU Small Finance Bank to allow ICICI Prudential AMC to acquire up to 9.95% stake in the bank.

Regulatory approval details

AU Small Finance Bank disclosed on September 9, 2026 that it received RBI's letter dated September 8, 2026 granting the approval. The clearance allows ICICI Prudential Asset Management Company Limited, along with schemes of ICICI Prudential Mutual Fund, funds under AIF managed by I-Pru AMC, and clients of PMS of I-Pru AMC, to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights.

The approval is subject to compliance with relevant provisions of the Banking Regulation Act, 1949, applicable RBI directions, provisions of the Foreign Exchange Management Act, 1999, regulations issued by the Securities and Exchange Board of India, and other applicable statutes and guidelines.

Key transaction details