Sanjay Agarwal is an Indian businessperson and founder of AU Small Finance Bank, where he is currently serving as the Managing Director & CEO. He was named Ernst & Young Entrepreneur of the Year Award 2018 in financial services.
After clearing CA in 1995, Sanjay started his own venture in Jaipur. Realizing the lack of institutions to cater to the financial needs of people in rural and semi-urban Rajasthan, he decided to start a financing firm, the erstwhile Au Financiers in 1996.
He started the business with the help of a few High Net worth Individuals (HNIs) in Jaipur. For over 2 decades, Au Financiers provided funding for income generating assets and partnered with customers.
In 2015, the Reserve Bank of India commenced the Small Finance Bank (SFB) category in India to encourage financial inclusion. Of the 72 companies that applied for the SFB license, 10 received licenses. AU Bank was the only non-banking finance company to receive this license.
Agarwal was first appointed as Managing Director of Au Financiers on February 14, 2008. As the company transformed into a Small Finance Bank on April 19, 2017, he became the Managing Director & CEO of AU Small Finance Bank.
In 2017, the IPO of the AU Bank was oversubscribed by more than 53 times. As of July 2018, the bank has a valuation of close to ₹20,000 crore (US$3 billion). Sanjay’s market wealth is about ₹4,000 crore (US$561 million).
Awards & honour
- He received the Ernst & Young Entrepreneur of the YearAward 2018. The award was presented by Chief Minister of Maharashtra, Devendra Fadnavis in February 2019
- He was awarded the Innovative Leader of the Year, 2018 by ET Now.
- Agarwal was honored with the Business Leader of the YearAward, 2016 under financial category by Institute of Chartered Accountants of India. The award was given by Pandiarajan, the Minister for School Education, Youth Affairs and Sports of Tamil Nadu.
- He was featured among the finalists for EY Entrepreneur of the Year, 2014.