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AU Small Finance Bank Ltd.

BSE: 540611 Sector: Financials
NSE: AUBANK ISIN Code: INE949L01017
BSE 00:00 | 23 Jul 637.50 6.30
(1.00%)
OPEN

626.65

HIGH

645.50

LOW

626.65

NSE 00:00 | 23 Jul 641.95 9.95
(1.57%)
OPEN

632.00

HIGH

646.90

LOW

627.75

OPEN 626.65
PREVIOUS CLOSE 631.20
VOLUME 518547
52-Week high 746.95
52-Week low 496.40
P/E 63.18
Mkt Cap.(Rs cr) 18,489
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 626.65
CLOSE 631.20
VOLUME 518547
52-Week high 746.95
52-Week low 496.40
P/E 63.18
Mkt Cap.(Rs cr) 18,489
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

AU Small Finance Bank Ltd. (AUBANK) - Chairman Speech

Company chairman speech

ACHIEVED REMARKABLE FINANCIAL RESULTS - OUR DISBURSEMENTS GREW BY 20%; REVENUES ROSE BY37%; PROFIT AFTER TAX STOOD AT ' 822 CRORE (INCLUDING EXCEPTIONAL PROFITS ON SALE OF STAKEIN SUBSIDIARIES OF ' 516.9 CRORE) WHICH WAS HIGHER BY 288% OVER FY 2015-16

THE BETTER YOU START THE FARTHER YOU GO.

It gives me immense pleasure to welcome you all to the first Annual General Meetingpost our conversion to the Au Small Finance Bank. Financial year 2016-17 was a veryeventful and exciting year for us as we successfully transitioned into a vibrant SmallFinance Bank (SFB) from an Asset Financing NBFC. Our Bank's operations commenced on 19thApril 2017.

For the last two decades Au FINANCIERS (INDIA) LIMITED the NBFC served theunderbanked and unbanked customers in rural and emerging areas of north west and centralIndia. As an NBFC we supported our customers to realise their personal and businessaspirations by offering them vehicle finance micro small and medium enterprises (MSMEs)loans; and small and medium enterprise (SME) loans. Now as an SFB we hope to do at abigger scale simultaneously providing a host of liability products and services coveringa larger geography.

Financial year 2016-17 will remain a remarkable year for India's economy as well as forus. The year recorded a GDP growth rate of 7.1% positioning India as one of thefastest-growing major economies in the world. The Government continues to create anenabling economic atmosphere for fast-paced growth with right strategies and schemes.

In this context we must mention the demonetisation drive and the implementation of theGoods and Services Tax (GST). Both these measures ushered in radical reforms in theeconomy bolstering its foundations for future. Moreover other government initiativessuch as Make in India; less-cash economy; affordable housing; Real Estate RegulatoryAuthority (RERA) Bill; Aadhar-linked transaction validations; Pradhan Mantri Jan-DhanYojana (PMJDY); Pradhan Mantri Mudra Loan Bank Yojana (PMMY) and Pradhan Mantri SurakshaBima Yojana (PMSBY) among others are likely to steer longterm economic development ofthe country.

Thus India's evolving economic landscape is creating both opportunities and challengesfor new-age Small Finance and Payment Banks which aim to create more

convenient and tech-friendly banking solutions. It is under this canopy of economicdevelopment that we have begun our journey as a Small Finance Bank.

For us the year under review was progressive as reflected below in our workingresults:

• Achieved remarkable financial results - our disbursements grew by 20%; revenuesrose by 37%; Profit After Tax stood at ' 822 crore (including exceptional profits on saleof stake in subsidiaries of ' 516.9 crore) which was higher by 288%

over FY 2015-16;

• Equipped for our Offer-for-Sale IPO of ' 1913 crore which got concluded inJuly 2017 - received an excellent response from all categories of investors; and

• Commenced operations as a Bank on 19th April 2017.

We believe our operational experience as an NBFC will enable us to develop our SFBoperations to create a single platform for multiple financial products and services. Ourexisting synergies with our customer base will help us to open more accounts and receivedeposits from them.

Before I conclude I wish to express my sincere gratitude to the Reserve Bank of IndiaSecurities and Exchange Board of India and other Regulators for their valuable advice andsupport. I also thank our investors and customers for their contributions and supportduring our journey of transition from a Non-Banking Finance Company to a Small FinanceBank.

I also congratulate Sanjay and his team for their dedication commitment and relentlessefforts that have helped AU Financiers transform into AU Small Finance Bank.

With warm regards

M. Venugopalan

Chairman