The Reserve Bank of India (RBI) has approved the appointment of slice founder Rajan Bajaj as the MD and CEO of slice Small Finance Bank (SFB). The appointment will take effect from February 17.
Bajaj, who was the executive director of the bank till now, will succeed Satish Kumar Kalra in his new role.
Notably, slice SFB posted a net profit of ₹28 Cr in the first nine months of FY26, it said in a statement. It had reported a profit of ₹6.5 Cr in H1 FY26, according to a Crisil Ratings report.
The profitability came shortly after slice merged with the North East Small Finance Bank (NESFB). The amalgamation, which completed in October 2024, unified the operations, assets and brand identities of both entities into a single banking institution.
Following shareholder and regulatory approvals, the merged entity was renamed slice Small Finance Bank with effect from February 11, 2025.
Post-merger, the bank’s capital position improved, with its net worth rising to ₹849 Cr as of March 31, 2025 from ₹61 Cr as of March 31, 2024. It further rose to ₹891 Cr as of September 30, 2025.
Notably, the bank’s assets under management (AUM) grew more than 250% YoY to ₹3,759 Cr in H1 FY26. For FY25, its AUM stood at ₹2,954 Cr.
In its FY25 annual report, the bank said the merger aligned slice’s digital architecture, including UPI products and lending platforms, with the physical branch infrastructure of the former NESFB. The combined entity aims to integrate digital deposit and lending capabilities directly into its core banking system.
Before turning profitable in H1 FY26, the bank reported a net loss of ₹216.7 Cr for the full year FY25, up more than 38% from ₹152.7 Cr in FY24.
Notably, slice was founded in January 2016 by Rajan Bajaj. It began as a fintech startup providing credit solutions like ‘Buy Now Pay Later’ (BNPL) to students and millennials.
The firm has raised about $380 Mn in funding to date. It entered the unicorn club in 2021 after raising $220 Mn in its Series B funding round.
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