Fincare Unlisted Shares

₹185

*Average Price as per 21 January, 2025

company-logo

Fundamentals

FACE VALUE

10

BOOK VALUE

58.84

NO OF SHARES

220779720

EPS

4.69

SALES

1744.12

INDUSTRY PE

18.87

DIVIDEND

0

DIVIDEND YIELD

0

PE

41.15

PB

3.28

PS

2.44

MARKET CAP

4261.05

EQUITY

220.78

PAT

103.64

MESSAGE

2022-23

OVERVIEW

You are currently viewing Fincare Small Finance Bank: History, Merger, Milestone, Products & Services, BOD, Financial Highlights


AU Small Finance Bank has acquired Fincare, a rapidly growing financial services company, effective from April 1, 2024. Established in 2017, Fincare has swiftly evolved into a significant player in the banking sector. Beginning as a small finance bank and later expanding into a full-fledged commercial bank, Fincare prioritizes financial inclusion, aiming to make banking services accessible to everyone. Guided by principles such as customer delight, ethical values, and technology-driven processes, Fincare focuses on delivering excellent service and building trust with customers across rural and urban areas.



History

The genesis of Fincare Small Finance Bank was the merging of two NBFC Micro Finance Institutions, Future Financial Services and Disha Microfin. In May 2017, Disha Microfin was granted the final license by the RBI under section 22 of the Banking Regulation Act, 1949, to initiate banking operations. Banking operations commenced on 21st July 2017, with a vision to facilitate the financial inclusion of unbanked and underbanked customer segments, including microentrepreneurs and microenterprises, along with broader masses, with active involvement from the affluent. In the first quarter of FY20, Fincare Small Finance Bank was included in the Second Schedule of the Reserve Bank of India Act, 1934. Consequently, the bank attained the status of a Scheduled Commercial Bank, signifying the highest level of trust and governance.


Evolution of Fincare Small Finance Bank



Empowering Principles

 

 Fincare Small Finance Bank Principles

 

Fincare Small Finance Bank’s Values. The name FINCARE represents a set of guiding principles that shape the bank’s ethos and operations: Fair, Innovative, Nimble, Collaborative, Accountable, Resolute, and Excellent.

 

Fincare SFB: Business Model


Fincare SFB: Business Model



Product & Services

Deposit Products

Loan Products

Savings Account

Micro Loan

Fincare 101 Account

Loan Against Property

Current Account

Loan Against Gold

Recurring Deposit

Affordable Housing Loan

Retail Term Deposit

Institutional Finance

 


Fincare and AU Merger Details

MERGER DETAILS

INFORMATION

Share Swap Transaction

Shareholders of Fincare SFB: 579 shares in AU SFB for every 2,000 shares held in Fincare SFB

Post-Merger Shareholding

Existing shareholders of Fincare SFB to hold ~9.9% stake in AU SFB

Regulatory Approvals

Approval received from RBI on March 4, 2024; CCI sanctioned the merger scheme on January 23, 2024

Capital Infusion

Promoters of Fincare SFB committed ₹700 Cr in capital infusion


Regulatory Approval:

The merger received regulatory approval from the RBI on March 4, 2024, following endorsement from the boards and shareholders of both banks. Furthermore, the Competition Commission of India (CCI) sanctioned the merger scheme on January 23, 2024, underlining its compliance with regulatory requirements.

 

Impact and Statistics:

  1. · Expanded Customer Base: The merged entity is poised to serve a diverse customer base exceeding 1 Crore individuals. This substantial increase in clientele signifies the enhanced reach and accessibility of banking services across various segments of the population.
  2. · Widespread Presence: With a network spanning over 2,350 physical touchpoints across 25 states and union territories, the merged bank is primed to offer unparalleled convenience and accessibility to its customers nationwide.
  3. · Financial Strength: As of December 31, 2023, the combined bank will boast a deposit base of ₹ 89,854 Crore and a Balance Sheet Size of ₹1,16,695 Crore, reaffirming its position as a significant player in the Indian banking landscape.

 

Key Strategic Rationale:

Key Strategic Rationale of Fincare Small Finance Bank 


Complementary Branch Footprint:

 Complementary branch footprint of Fincare Small Finance Bank

 

 

Diversification of Portfolio:

Diversification of portfolio Fincare Small Finance Bank

 


Board of Directors