AU Bank says vehicle-finance AUM crossed INR 50,000 crore in August
AU Small Finance Bank’s disclosed vehicle-finance segments total INR 50,485 crore, with pre-owned vehicles accounting for about 35.6 per cent. The September announcement concerns an August milestone and does not disclose the business’s asset quality.
Vehicle-finance assets under management at AU Small Finance Bank crossed INR 50,000 crore in August, the bank said on 16 September. Its disclosed components total INR 50,485 crore: INR 30,752 crore in new-vehicle finance, INR 17,966 crore in pre-owned vehicles and INR 1,767 crore in two-wheelers. Pre-owned finance represents about 35.6 per cent of that total. AU says the franchise serves more than 13.7 lakh customers and recorded three-year and five-year compound annual growth of 26 per cent and 29 per cent. It did not disclose Wheels-specific delinquencies, credit costs or profitability.
