North East Small Finance Bank (NESFB) has announced significant improvements in its financial stability following the merger with slice on October 27, 2024. The integration of NESFB’s banking expertise with slice’s technological advancements has resulted in a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5% and a surge in net worth to Rs 920 crores.
The bank’s Net Non-Performing Assets (NNPA) have improved to 4.6%, indicating enhanced asset quality and risk management practices. Managing Director & CEO of NESFB, Mr. Satish Kumar Kalra, expressed optimism about the merger, stating it has propelled NESFB into a new era of operational excellence and strategic growth, particularly in the underserved Northeast region.
With a commitment to innovation and community empowerment, NESFB aims to provide advanced banking solutions to enhance financial independence for all socio-economic backgrounds. The merger positions NESFB as a leading tech-first bank in India, dedicated to transparency and reliability for its stakeholders.
