AU Bank's credit card business will break even in FY25: CEO Sanjay Agarwal

Banking will completely shift from brick-and-mortar to online in some 10 years, he says

AU Small Finance Bank is planning to double its credit card by the end of the current financial year, Sanjay Agarwal, managing director and chief executive officer, has said. The bank will break even in the card business in FY25, he told Manojit Saha in an interview.

Here are edited excerpts from the interview.

The bank’s loan book has grown by 26 per cent and deposits by 32 per cent in FY23. What business growth do you see in FY24?

Last year, there was inflation and a high interest rate cycle with 250 bps hike in the repo rate. We