🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

RBI approves Rajan Bajaj as MD and CEO of Slice

EntrackrEntrackr · 11d ago
RBI approves Rajan Bajaj as MD and CEO of Slice
Medial

Snippets RBI approves Rajan Bajaj as MD and CEO of Slice Fintech company Slice has announced the appointment of its founder, Rajan Bajaj, as Managing Director and Chief Executive Officer. Bajaj previously served as Executive Director of the company. The appointment has been approved by the Slice Board, shareholders, and the Reserve Bank of India (RBI). Bajaj founded Slice in 2016 and led the company from a consumer fintech startup into a regulated bank following its merger with North East Small Finance Bank in 2024. The company claims to have served more than 20 million registered users, employs over 3,000 people, and has raised over $250 million from prominent investors including Tiger Global, Insight Partners, and Advent International. Bajaj built Slice’s lending distribution and payments businesses under GIPL. In 2019, he also established Quadrillion Finance, QFPL, a wholly-owned NBFC of GIPL that extended credit to retail customers and small businesses using technology-led underwriting and efficient risk processes. QFPL was profitable and, along with GIPL, later merged into Slice’s banking entity. Over the last three quarters of FY26, Slice reported a Profit After Tax of Rs 27.97 crore. Asset quality remains stable, supported by disciplined underwriting and in-house risk infrastructure. Within one year of commencing full banking operations, more than 4 million savings accounts have been opened with it. Commenting on the appointment, Bajaj said, “I am grateful to the Reserve Bank of India and our Board for the confidence they have placed in me. More people need banking in India today than at any point in our country's history. The digital infrastructure to serve them well and at a fraction of the traditional cost now exists. And for the first time, technology makes it possible to offer every customer the kind of financial products that until recently were only available to the wealthiest few.” Slice operates as a full-stack bank, offering solutions such as the Slice savings account, Slice fixed deposits, Slice UPI, Slice borrow, the Slice UPI credit card, and India’s first UPI-led bank branch.

Slice Small Finance Bank records maiden profits in H1 FY26

EntrackrEntrackr · 3m ago
Slice Small Finance Bank records maiden profits in H1 FY26
Medial

Slice Small Finance Bank (SSFB), formed after the merger of fintech Slice and North East Small Finance Bank, has reported its first profit since the amalgamation. The lender posted a net profit of Rs 7 crore for the first half of FY26, marking a turnaround from a loss of Rs 217 crore in FY25 and Rs 153 crore in FY24, according to CRISIL’s latest rating report. During the April–September 2025 period, SSFB’s pre-ESOP profit stood at Rs 43 crore, of which Rs 36.5 crore was transferred to the employee stock option reserve. CRISIL noted that the bank’s profitability was better than anticipated, aided by net interest margins of 11.1% (annualised) and credit costs of 2.4%, even as the cost of funds rose slightly due to legacy high-cost borrowings inherited from North East Small Finance Bank. According to the report, the bank’s assets under management (AUM) jumped to Rs 3,759 crore as of September 2025 from Rs 2,954 crore in March 2025, showing rapid growth after the merger became effective in October 2024. The portfolio mix remained dominated by digital unsecured personal loans, which accounted for about 76% of AUM, followed by MSME loans (14%) and other lending categories. Deposits also saw strong traction, which rose 61% in H1 FY26 to Rs 3,896 crore, with a healthy CASA ratio of 27.5%, up from Rs 2,418 crore at the end of FY25. In line with this improved performance, CRISIL revised its outlook on the bank’s Lower Tier-II bonds to ‘Positive’ from ‘Stable’, reaffirming the rating at BBB-. The agency said “the outlook revision reflects SSFB’s strengthening market position, improved profitability, and adequate capitalisation”. As of September 2025, the lender’s capital adequacy ratio stood at 18.1%, supported by a net worth of Rs 891 crore, compared to Rs 849 crore in March 2025. While asset quality remains modest, its gross NPAs declined to 5.8% and net NPAs to 4.2%, down from 6.3% and 4.7% in FY25. CRISIL cautioned that the bank’s ability to sustain its profitability and maintain stable asset quality as it scales operations will be a key rating sensitivity going forward.

Download the medial app to read full posts, comements and news.