North East Small Finance Bank (NESFB) has reported significant improvements in its financial health following its merger with slice on October 27, 2024. The integration combines NESFB’s banking experience with slice’s technological innovation, enhancing financial metrics and operational capabilities.
With a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5% and a net worth of Rs 920 crores, NESFB is well-prepared for strategic expansion, particularly in the underserved Northeast region. The bank also improved its Net Non-Performing Assets (NNPA) to 4.6%, indicating better asset quality and risk management.
Mr. Satish Kumar Kalra, Managing Director & CEO of NESFB, stated that the merger marks a new era of financial stability and operational excellence, positioning NESFB as a leader in providing innovative banking solutions to local communities. The bank aims to empower diverse socio-economic groups by leveraging technology to enhance access to financial services.
