AU Small Finance Bank, India’s largest SFB, proudly announces the opening of its branch on Avinashi Road in Coimbatore, Tamil Nadu. This expansion into the vibrant city of Coimbatore reflects AU SFB’s commitment to offering accessible banking solutions across South India. With the addition of this new branch office, AU SFB will now operate from a total of 5 branches in Tamil Nadu.
Coimbatore, often recognized as the 'textile capital' or the 'Manchester' of South India, stands as a key industrial hub and the second-largest market in Tamil Nadu. The city is home to a diverse industrial base, comprising over 25,000 small, medium, and large-scale industries, textile mills, foundries, and automobile manufacturing units. Avinashi Road has been strategically chosen as the location for AU SFB’s Coimbatore branch due to its central positioning.
On the opening of the Coimbatore branch, Rishi Dhariwal, Group Head Liability, AU Small Finance Bank, said, "AU Small Finance Bank is deeply grateful for the overwhelming support received from customers in South India across all states, contributing significantly to the growth of our bank over the past 3.5 years. With the inauguration of our first branch in Coimbatore, we are excited to introduce a diverse range of AU SFB's innovative products to the residents of Coimbatore. AU SFB aims to strategically and gradually expand its footprint in Southern states over the next few years."
As of December 2023, the Southern region has surpassed Rs 3,000 crore of deposits, instilling confidence in AU SFB to scale up its operations in South India. In fact, AU SFB has commenced the execution of its expansion plans in South India, with 19 operational branches already in place. Coimbatore marks the initiation of the 18 additional branches planned for this financial year in the South. The bank aims to reach approximately 37 branches in South India by March 2024.
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