Shillong, Nov 24: The North East Small Finance Bank (NESFB) has witnessed substantial growth in its financial health and stability following the successful completion of its merger with slice on October 27, 2024.
This merger, which integrates NESFB’s established banking foundation with slice’s technological innovation, has strengthened the bank’s financial metrics and operational capabilities, paving the way for a stable and resilient future for its stakeholders.
With a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5%, the bank is equipped to absorb risks and drive growth, building confidence among its stakeholders. The bank is now well-positioned for strategic expansion and investment, especially in the underserved Northeast region, with its net worth rising to ₹920 crores.
Meanwhile, the improvement in Net Non-Performing Assets (NNPA) to 4.6% reflects better asset quality, collection management and disciplined risk management. These figures highlight the institution’s improved financial health and its commitment to delivering value.
Mr. Satish KumarKalra, Managing Director and CEO of NESFB, commented on the strengthened position, the merger has truly ushered NESFB into a new era of financial stability and operational excellence.
With thier strengthened capital base, we’re excited to expand further into the Northeast, bringing advanced banking solutions to communities that need them most. These improved financial metrics reflect our unwavering commitment to sustainable growth andreinforce our role as a trusted leader in the region.
Enhance risk management and operational resiliance NESFB has enahnced its risk management approaceh, making it more procative in handling financial and operational risks. These changes help the bank remain resilient and adaptable in a constanly changing economic land scape.
at the core of NESFB’s vision in a strong commitment to innovation, inspired by the rich heritage of the Northeast. The banks’s products aim to bridge economic and social gaps recahing the last miles customers. By using slice’s advance technology, NESFB is focused on empowring people across all socia-economic background, giving them east acess to financial independent.
The improved financial health and operational capacity of NESFB underscores its dedication to serving institutional partners and customers with transparency and reliability. The merger has set the stage for the institution to emerge as one of the most capable tech-first banks in India.
