Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Hyperface and Tutelar tie- up for fraud and risk management services

    May 6, 2024

    PhonePe ties up with Star Health Insurance offers monthly payments plan

    April 17, 2024

    Ramit Goyal appointed as Chief Distribution Officer at Future Generali India Insurance

    April 17, 2024
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » AU Small Finance Bank acquires Fincare SFB
    Banking

    AU Small Finance Bank acquires Fincare SFB

    The Board of Directors of AU Small Finance Bank in its meeting held on 29th October has approved the merger of Fincare small Finance Bank with AU Small Finance Bank. The bank informed the exchanges on Sunday late evening.
    October 30, 20231 Min ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    A first in India’s banking industry, two small finance banks AU Small Finance Bank and Fincare Small Finance Bank will get merged.

    The Board of Directors of AU Small Finance Bank in its meeting held on 29th October has approved the merger of Fincare small Finance Bank with AU Small Finance Bank. The bank informed the exchanges on Sunday late evening.

    The transaction is subject to approval of the respective shareholders of both companies, the Reserve Bank of India and India’s competition regulator.

    The transaction is also subject to capital infusion of ₹700 crore from promoters of Fincare Small Finance Bank.
    Appointed date of the transaction shall be February 1, 2024 or any other date mutually fixed by both companies and approved by the RBI.
    As per the deal, AU Small Finance Bank will issue 579 shares of the bank for every 2,000 shares held by shareholders of Fincare, or one share of the bank for every 3.45 shares of Fincare.
    Post the transaction, existing shareholders of Fincare will hold 9.9% stake in AU Small Finance Bank.
    AU SFB
    Previous ArticleReserve Bank of India opens Sub-office in Itanagar, Arunachal Pradesh
    Next Article RBI announces names of third cohort on MSME lending
    Bfsinxt Desk

    Related Posts

    Cashfree Payments launches ‘RiskShield’ to combat cyber payment frauds

    April 10, 2024

    Mastercard ties-up with Alipay for cross-border solutions

    April 10, 2024

    Indian banking sector continues to grow with better asset quality, high credit growth: FICCI- IBA Bankers’ Survey

    March 27, 2024

    NPCI International signs MoU with Eurobank to drive inward remittances

    March 21, 2024

    Leave A Reply Cancel Reply

    Recent Posts

    • Hyperface and Tutelar tie- up for fraud and risk management services
    • PhonePe ties up with Star Health Insurance offers monthly payments plan
    • Ramit Goyal appointed as Chief Distribution Officer at Future Generali India Insurance
    • Cashfree Payments launches ‘RiskShield’ to combat cyber payment frauds
    • Mastercard ties-up with Alipay for cross-border solutions

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    Aditya Birla Housing Finance launches ‘ABHFL- Finverse’ for better loan experience

    March 30, 2024

    Shriram Finance raises USD 750mn through Social Bond from International Bond Markets

    January 23, 2024

    Karnataka Bank and Clix Capital enter into a Co-Lending Partnership

    January 17, 2024

    UGRO Capital raises USD 30 Million through NCDs from FMO

    January 2, 2024
    New Policy
    Policy

    Reserve Bank of India opens Sub-office in Itanagar, Arunachal Pradesh

    October 23, 20230By Bfsinxt Desk

    On October 20, 2023, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated…

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 2022

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2025 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.