This partnership aims to enhance AU SFB's offerings, particularly in Southern India, by leveraging Bharti AXA Life’s diverse portfolio to create a holistic ecosystem with a wide range of financial solutions, streamlined services, and personalized support.

Following its recent application for a universal banking license with the Reserve Bank of India (RBI), AU SFB is strategically enhancing its bancassurance portfolio to provide cutting-edge, technology-driven insurance solutions to its extensive customer base of over 1 crore, spanning diverse segments.

Uttam Tibrewal, executive director and deputy CEO of AU Small Finance Bank, said, “At AU SFB, our customers remain at the core of everything we do. The bank remains committed to its mission of constantly evolving and adapting to meet the changing needs of the customers. AU SFB is excited to partner with Bharti AXA Life Insurance to offer a wide range of innovative life insurance products.

This collaboration will empower our customers to achieve their aspirations, protect their loved ones, and secure their financial futures. This partnership also marks a significant step towards realizing our vision of becoming the preferred digital financial partner while embodying our ‘Banking Bhi, Bima Bhi’ ethos. AU SFB’s customer-focused approach will allow individuals to choose the insurance solution that suits them best, ensuring they receive fair and transparent sales practices.”

Parag Raja, MD & CEO at Bharti AXA Life Insurance, said, “We are delighted to announce our strategic partnership with AU SFB, which has a strong legacy of serving the unreached and unbanked masses of India. AU SFB’s extensive network, combined with our expertise in simplifying insurance, creates a powerful synergy that will allow us to offer tailored and innovative financial solutions.

This alliance aligns with IRDAI’s vision of achieving ‘Insurance for all’ by 2047. By combining our capabilities, Bharti AXA Life and AU SFB look forward to creating a more comprehensive financial experience for customers, thereby contributing to increased insurance penetration and advancing towards the regulator's vision.”

AU Small Finance Bank (AU SFB/AU) is a scheduled commercial bank, a Fortune India 500 Company and the largest Small Finance Bank in the country.

The bank’s net profit jumped 42.15% to Rs 571.21 crore in Q2 FY25 as compared with Rs 401.83 crore in Q2 FY24. Net interest income (NII) stood at Rs 1,974 crore in the second quarter of FY25, up 58.05% YoY.

Shares of AU Small Finance Bank fell 0.76% to Rs 585.90 on the BSE.