The shares of the Jaipur-based private sector lender, AU Small Finance Bank, rose as much as 7 per cent to hit an intra-day high of Rs 1,207.85 on the BSE after the bank issued aclarification on recent exit from its management team.
AU Small Finance Bank said in a stock exchange filing that there is not a single resignation in the top-50 senior management team or Board of Directors, apart from that of Alok Gupta, the former Chief Risk Officer (CRO), who resigned due to personal reasons."We categorically want to confirm that there is not a single other resignation in the top-50 senior management team or the Board of Directors.
The senior management team (top-50) has an average vintage of 6.5 years with AU and remains very excited around our journey to create a leading banking franchise," AU Small Finance Bank said in an exchange filing.The board of directors on August 28, 2021 had approved the appointment of Deepak Jain as the CRO of the bank for a period of three years, the Jaipur-based lender said.AU Small Finance Bank added that its asset quality is stable."Asset quality remains stable and last two months collections have given us further confidence," the bank said.As of 1:24 pm, AU Small Finance Bank shares traded 2 per cent higher at Rs 1,154, outperforming the Sensex which was down 0.2 per cent.