North East Small Finance Bank (NESFB) has announced significant improvements in its financial health following the successful merger with slice on October 27, 2024. The integration combines NESFB’s established banking foundation with slice’s technological expertise, enhancing the bank’s operational capabilities.
With a Capital to Risk-weighted Assets Ratio (CRAR) of 23.5% and a net worth of Rs 920 crores, NESFB is well-positioned for growth and strategic expansion, particularly in the underserved Northeast region. The bank also reported a reduction in Net Non-Performing Assets (NNPA) to 4.6%, indicating improved asset quality.
Managing Director & CEO of NESFB, Mr. Satish Kumar Kalra, emphasized the merger’s role in fostering financial stability and operational excellence, aiming to provide advanced banking solutions to local communities. NESFB’s enhanced risk management strategies further solidify its commitment to innovation and customer empowerment.