India's AU Small Finance Bank drops after deposits decline sequentially

AU Small Finance Bank

08/07/2024 08:57

** Shares of AU Small Finance Bank Ltd  AUFI.NS  down 4.2%
at 644.70 rupees
    ** AUFI's deposits for quarter to June 30 fall 0.4%
sequentially as bank focuses on improving finance costs by
reducing high-cost deposits
    ** Analysts tracking AUFI rate it "buy" on avg; in-line with
most other private bank stocks  .NIFPVTBNK  - LSEG data
    ** Stock down over 18% YTD after 5-consecutive years of
gains; trails private bank stocks' 5.3% rise in 2024


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))