AU Small Finance Bank (AU SFB), India's largest small finance bank, has announced a strategic partnership with SBI Life Insurance, one of the country's most trusted life insurers. This collaboration aims to enhance access to comprehensive insurance solutions nationwide, supporting the government's 'Insurance for All by 2047' mission.

Partnership Details

The agreement will allow AU SFB to distribute SBI Life's comprehensive portfolio of life insurance solutions across its extensive network of over 2,505 banking touchpoints in 21 states and 4 union territories. The partnership will offer a wide range of insurance products, including:

• Protection plans
• Savings and investment solutions
• Child-focused policies
• Money-back policies
• Retirement plans

Expanding Financial Inclusion

This alliance is set to benefit customers by providing a unified banking and insurance experience, enabling them to meet diverse protection and long-term financial planning needs. The collaboration will leverage AU SFB's digital platforms and customer engagement channels to deliver a simplified, transparent, and accessible insurance journey.

Mr. Uttam Tibrewal, Executive Director and Deputy CEO of AU Small Finance Bank, emphasized the importance of this partnership, stating, "At AU Small Finance Bank, we believe financial security is a fundamental right, not a privilege. This partnership with SBI Life Insurance reinforces our shared commitment to delivering reliable, need-based insurance solutions to diverse communities across urban and semi-urban areas of India."

Strengthening Market Presence

AU Small Finance Bank's robust network and SBI Life's expertise in driving insurance adoption are expected to create a significant impact in urban, semi-urban, and rural markets. The partnership aims to extend financial protection to underserved and emerging markets across India.

Mr. Abhijit Gulanikar, President – Business Strategy at SBI Life Insurance, commented on the collaboration, saying, "Our partnership with AU Small Finance Bank is a strategic step towards deepening insurance adoption across India. AU's strong rural reach and community connect bring us closer to the shared vision of 'Insurance for All by 2047', making protection more accessible—one household at a time."

About AU Small Finance Bank

AU Small Finance Bank, founded in 1996, began its banking operations in April 2017. The bank's key financial highlights include:

The bank serves over 1.15 crore customers and is supported by a workforce of 53,000+ employees.

About SBI Life Insurance

SBI Life Insurance, incorporated in October 2000, offers a diverse range of products catering to both individuals and group customers. SBI Life's presence includes:

• 1,146 offices
• 27,040 employees
• Network of about 253,799 agents
• 62 corporate agents
• 9 bancassurance partners with more than 41,000 partner branches
• 150 brokers and other insurance marketing firms

This strategic partnership between AU Small Finance Bank and SBI Life Insurance marks a significant step towards expanding insurance accessibility and promoting financial inclusion across India.

AU Small Finance Bank , a prominent player in the Indian banking sector, recently made headlines with a significant block trade on the National Stock Exchange (NSE). The transaction, which took place during the latest trading session, involved a substantial number of shares changing hands.

Block Trade Details

The block trade executed by AU Small Finance Bank encompassed approximately 705,463 shares. The shares were traded at a price of Rs. 746.10 per share, resulting in a total transaction value of Rs. 52.63 crores.

Market Impact

This sizeable block trade underscores the continued interest in AU Small Finance Bank's shares among institutional investors. Such transactions often indicate confidence in a company's financial health and future prospects.

About AU Small Finance Bank

AU Small Finance Bank is known for its focus on serving the underbanked and unbanked segments of the population. The bank offers a range of financial products and services, including savings accounts, loans, and investment options.

Investor Considerations

While this block trade represents a significant movement of shares, it's important for investors to conduct their own research and consider various factors before making investment decisions. As always, market conditions and company performance can fluctuate, and past transactions do not guarantee future results.