AU Small Finance Bank extends support to over 1000 flood affected families in Karnataka
Belagavi (Karnataka) [India], September 2: AU Small Finance Bank, India’s largest SFB, furthering its commitment to social responsibility, launched a flood relief initiative in response to the devastating floods that swept through Belagavi & Bagalkote districts in Karnataka. The Bank undertook an initiative to support thousands of affected communities by distributing grocery kits between August 20th and August 29th, 2024, to reach out to those in dire need.
The heavy rainfall on July 17th, 2024, triggered devastating floods in over 21 villages, impacting approximately 1200 individuals with ruined crops and numerous families with destroyed homes. In response, the AU SFB team swiftly distributed 1000 dry ration kits to affected families across the districts of Belagavi (benefiting 750 individuals) and Bagalkote (supporting 250 individuals), providing essential relief and assistance during this challenging time.
Each kit contained essential food items, including 2 kg of wheat flour, 1 kg of rice, 1 kg of cooking oil, 1 kg of pulses and 1 kg sugar. These kits were delivered directly to the homes of the beneficiaries by AU SFB’s CSR team to ensure that the affected families could better sustain themselves during this natural disaster.
Meanwhile, AU SFB has expanded its CSR reach across twelve Indian states, such as: Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, Telangana and Uttar Pradesh. The comprehensive initiatives in these geographies include health camps, financial literacy programs, study centers, flood relief activities, tree plantation, and rainwater harvesting. The Bank’s commitment to community welfare and environmental protection is demonstrated through various initiatives.
About AU Small Finance Bank
AU Small Finance Bank (AU SFB) is India’s largest Small Finance Bank, established in 1996 by Sanjay Agarwal and commencing banking operations in April 2017. With 29 years of experience serving rural and semi-urban markets, AU SFB operates a sustainable business model, providing credit to underserved retail and MSME segments and complete banking solutions to customers. As a tech-led bank, AU SFB offers innovative digital products and services, with a strong online presence and a highly rated mobile app. With 2,414 touchpoints across 21 states and 4 UTs, AU SFB serves 1.08 Cr customers with 46,000+ employees. As of June 30, 2024, the bank has a shareholders’ fund of ₹15,516 Cr, deposits of ₹97,290 Cr, loans of ₹99,792 Cr, and a balance sheet size of ₹1.26 Lac Cr. AU SFB is listed on NSE and BSE, with high external credit ratings of ‘AA/Stable’ and ‘AA+/Stable’ from leading rating agencies.