In a significant development in India’s financial sector, slice, a leading consumer payments and lending company, has successfully merged with North East Small Finance Bank (NESFB) as of 27th October 2024. This merger, finalized after securing all necessary shareholder and regulatory approvals, combines the innovative fintech capabilities of slice with the established banking framework of NESFB, creating a single, integrated entity poised for growth.
The merger aims to enhance the bank’s footprint in the Northeast, where NESFB has a robust presence. This integration is expected to leverage advanced technology to promote financial inclusion and stimulate economic development in the region. With a strengthened financial foundation, the merged entity plans to expand its offerings, including savings accounts, fixed deposits, and credit products.
Reflecting on the merger, Rajan Bajaj, Founder & CEO, slice and Executive Director of the merged entity, said, “For over a year, the teams at slice and NESFB have worked tirelessly to make this merger a reality… We’re especially committed to strengthening our roots in the Northeast, striving to bring more people into the formal banking system.” In Siliguri, this merger signifies a promising opportunity for local consumers, who can expect improved access to modern banking services and enhanced customer experiences as the merged entity focuses on driving regional growth.
