Fintech startup slice has orchestrated a remarkable turnaround after acquiring a struggling bank. In 2022, the RBI crackdown on co-branded cards and BNPL services forced slice to pivot. The company's bold acquisition of North East Small Finance Bank provided the necessary banking license to survive. Through aggressive balance sheet restructuring, slice implemented a proprietary underwriting system using behavioral data and digital transaction trails. The results speak volumes. Gross NPA fell to 6.25% in FY25 while operating income tripled to ₹403.27 crore. The bank reported ₹27.97 crore profit in the first nine months of FY26. However, challenges persist with rising expenses and elevated cost-to-income ratios. Banking regulations now impose stricter governance requirements. The next phase demands maturation into a robust financial institution rather than mere survival.
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