Jaipur , December 17, 2017 (GPN) : AU Small Finance Bank (AU SFB) [BSE: 540611; NSE: AUBANK], has entered into Memorandum of Understanding with the prestigious Institute of Company Secretaries of India (ICSI) to give the latter’s students and members a career launch pad with an apprenticeship programme as well as an employment opportunity. AU Bank shall offer the ICSI trainees best stipend as per the prevailing industry norms.
During this two year-long arrangement, the Bank will provide them exposure in Financial Services and experience in the field of Secretarial, Compliance, Finance and Accounts and other related areas thereby enhancing their knowledge and helping them to grow professionally in the dynamic Business environment. The trainee aspirants will be selected for Training in Bank on merit basis and shall go through the relevant assessment process before being associated as CS Trainee with the Bank. The Bank shall hire the Qualified Company Secretary(ies) Professionals having valid Associate/Fellow membership of ICSI for relevant profiles as per requirements in future.
While signing this MoU Mr. Sanjay Agrawal, MD & CEO, AU Bank expressed, “This partnership with ICSI aligns well with AU’s philosophy of adding value to the ecosystem in which we operate. AU looks forward to this opportunity to inculcate the ethos of conducting business in fair and compliant manner while managing financial risks among these young professionals. Banking sector is growing at pace in strict regulatory framework and we believe that Qualified CS professionals with strong knowledge of compliance and legal will add value & culture of governance in different roles in Banks .”
Mr. Shyam Agrawal, President, ICSI said, “AU SFB’s dynamic work environment will give our student the best exposure to the current industry norms and rapidly changing regulatory framework. I believe this partnership will pave the way to develop soft skills amongst upcoming Company Secretary professionals while imbibing excellent quality technical education as covered in ICSI curriculum.”
AU SFB will also provide specialized and privileged Banking services to members including their firms & associates, students and office bearers of ICSI.
About AU Small Finance Bank Limited
Started in 1996 as Au Financiers, AU Small Finance Bank Limited has a long standing track record of over two decades of being a retail focused and customer centric institution serving the underbanked and unbanked masses of North, West and Central India.
AU Bank commenced its banking operations on April 19, 2017. As on Sept 30, 2017, AU Bank’s distribution network was at 301 Branches, 113 Asset Centres, 23 offices and 287 ATMs spread across 11 states and one union territory. AU Bank had Gross Asset Under Management of Rs. 12,134 Cr, Total Deposits of Rs. 1,978 Cr and an employee base of 9,974 team members at the end of H1 FY 2018.
AU Bank offers comprehensive suite of asset and liability product and services under Retail and Wholesale Bank. AU Bank’s Retail Loan offerings include Wheels Loan, Secured Business Loans to MSME & SME, Gold Loan, Agri-SME Loans whereas as part of wholesale bank, the bank offers NBFC Loans, Real Estate Group Loans and Business Banking Loans.
On the Liability side, AU Bank offers Current Account, Savings Account, Fixed Deposits, Recurring Deposits and transaction banking services. In addition, AU Bank is also offering Locker services and Third Party products like General Insurance and Life Insurance.
Long Term Credit Rating: IND A+ / Positive (India Ratings)
Short Term Credit Rating: IND A1+ (India Ratings)
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