North East Small Finance Bank (NESFB) has announced significant improvements in its financial health following its merger with slice. The integration, completed on October 27, combines NESFB’s solid banking foundation with slice’s technological innovations, enhancing operational capabilities and financial metrics.
The bank now boasts a Capital to Risk-weighted Assets Ratio (CRAR) of 23.5%, positioning it for strategic expansion, particularly in the underserved Northeast region. NESFB’s net worth has increased to Rs 920 crores, and its Net Non-Performing Assets (NNPA) have improved to 4.6%, indicating better asset quality and risk management.
Managing Director & CEO of NESFB, Mr. Satish Kumar Kalra emphasized the merger’s role in ushering in a new era of stability and growth, highlighting the bank’s commitment to delivering advanced banking solutions to local communities. With enhanced risk management strategies and a focus on innovation, NESFB is set to become a leading tech-first bank in India, dedicated to fostering financial independence across diverse socio-economic backgrounds.
