AU Small Finance Bank gains after entering into agreement

AU Small Finance Bank rose 1.17% to Rs 583.45 at 11:13 IST on BSE after the company entered into agreement with ACKO General Insurance Company for general insurance as corporate agent.

The announcement was made after market hours yesterday, 21 February 2019.

Meanwhile, the S&P BSE Sensex was down 19.74 points, or 0.05% to 35,878.61

On the BSE, 1,987 shares were traded in the counter so far, compared with average daily volumes of 3,476 shares in the past two weeks. The stock had hit a high of Rs 587.25 and a low of Rs 576.85 so far during the day.

AU Small Finance Bank has been issued certificate of registration CA0515 under Registration of Corporate Agents - Regulations, 2015 by Insurance Regulatory and Development Authority of India (IRDAI), entered into agreement with ACKO General Insurance Company (ACKO) to act as corporate agent for general insurance products. This tie up shall be mutually beneficial for bank and ACKO General Insurance Company in terms of business, market penetration and digital distribution of insurance products.

AU Small Finance Bank's net profit rose 20.79% to Rs 95.33 crore on 56.83% rise in total income to Rs 894.25 crore in Q3 December 2018 over Q3 December 2017.

AU Small Finance Bank is a scheduled commercial bank with diversified bouquet of products and services.

Powered by Capital Market - Live News