The SFB has entered into bancassurance tie-ups withStar Health and Allied Insurance Company for providing health insurance solution to the bank's customers.

It has also inked a bancassurance agreement with Bajaj Allianz Life Insurance Company for offering life insurance solution to the customers of the bank.

"These tie-ups will enable the Bank's customers to access a wide range of insurance products from Star Health and Bajaj Allianz,” AU Small Finance Bank stated in an exchange filing made after market hours on Wednesday.

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 reported 44.4% jump in net profit to Rs 386.90 crore in Q1 FY24 as compared with Rs 267.87 crore in corresponding quarter last year. Total income increased by 40.1% to Rs 2,773.46 crore in Q1 FY24 as compared with Rs 1,979.35 crore in Q1 FY23.

The scrip rose 0.30% to currently trade at Rs 722 on the BSE.