A method of managing power and a power management circuit operable in a plurality of modes are presented. The power management circuit includes a three terminals switching converter coupled to a controller. The switching converter has a single inductor, two sets of switches, a bypass switch and a transition switch. The first set of switches is coupled to an input terminal. The second set of switches is coupled to a battery terminal. The bypass switch is coupled between the battery terminal and a load terminal. The single inductor is provided between a first switching node and a second switching node. The transition switch is provided between the first switching node and the battery or the load terminal. A controller is configured to select a mode of operation by changing a state of at least one of the bypass switch and the transition switch.