AU Small Finance Bank was founded as a vehicle finance company and is an Indian commercial bank. Au Financiers Ltd was established in 1996 and on 19 April 2017 it was converted into a small finance bank. AU Small Finance Bank was ranked 469 in the Fortune India 500 companies, with assets of ₹9,186.28 crores and annual revenue of ₹2,041.82 crores. MAS Financial Services Ltd. was incepted back in 1995. MAS delivered financing solutions to those who needed it the most when times were quite different. The company is registered as a non-banking financial company with the central bank i.e. The Reserve Bank of India. FinanceShed brings everything you need to know about AU Small Finance Bank and MAS Financial services.
AU Small Finance Bank Limited operates as a commercial bank in India. The Bank’s vision is to offer financial products and services such as term deposits, savings, and current accounts, debit cards, government banking, insurance, retail loans, and microfinance lending. AU Small Finance Bank serves customers all over in India.
AU and MAS are run by first-generation entrepreneurs who know their respective businesses and have the expertise in navigating their business in odds and every kind of economic cycle. Due to this managerial ability, the investors have faith in the companies and are investing on a huge scale. The reported earnings post-conversion was less impressive than the growth. The advances have risen by 2.8 times over the last some quarters, as a result of diversification of business. This diversification was in the field of business banking, gold loans, home loans, agri-SME, consumer durables, and two-wheelers.
MAS Financial Services is to provide first class services right at the doorsteps of the masses. It had opened several service centers and branches. Its network of 77 Branches in major cities of Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Karnataka & Tamil Nadu through which over 3300 centers are catered and is destined to grow. It is done because MAS Financial Services’ valued customers receive high-quality service and no matter where they are located. In Gujarat, the Company has already established a very deep penetrating network and it has the plan to replicate it in the neighboring states.
MAS financial services are primarily based outside Gujarat and a Non-banking financial institution promoted by Kamlesh Gandhi and Mukesh Gandhi operated among six states along with Delhi. The institution offers major four products which are microenterprise loans (MEL), SME (small & medium enterprise), two-wheelers and CV (commercial vehicle) loans. The prime focus of this institution is to provide financial services to small businesses and individuals. The company has also entered into commercial arrangements with a large number of sourcing intermediaries, including commission based Direct Selling agents. The company also has a diversified portfolio profile with some risk attached to it. In the past quarters, there is a constant increase in deposits with a bank.
All in all both entities are smaller entities and has a huge scope for growth provided correct decision is taken and diversification is done.