North East Small Finance Bank (NESFB) has announced significant improvements in its financial health after merging with slice on October 27, 2024. The merger combines NESFB’s traditional banking strengths with slice’s technological expertise, enhancing the bank’s operational capabilities.
NESFB reported a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5%, indicating strong risk absorption potential. The bank’s net worth has increased to Rs 920 crores, and its Net Non-Performing Assets (NNPA) have improved to 4.6%, reflecting better asset quality and risk management practices.
Managing Director & CEO of NESFB, Mr. Satish Kumar Kalra emphasized the merger’s impact, stating it marks a new era of stability and operational excellence for NESFB. He highlighted the bank’s commitment to expanding into the underserved Northeast region with innovative banking solutions. The merger positions NESFB as a leading tech-first bank in India, dedicated to fostering financial inclusion across diverse communities.3
