Reserve Bank of India has approved AU Small Finance Bank's transition to a Universal Bank. The approval is 'in-principle'. AUSFB reported a rise in first quarter net profit. The net profit is Rs 581 crore. It was Rs 503 crore last year. The bank's net interest margin dipped to 5.4%. This was due to asset quality stress.
from Banking/Finance-Industry-Economic Times https://ift.tt/Z1khOl5
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