slice Swings To ₹51 Cr Profit In Q1, Total Income Rises 39% YoY

slice Small finance bank (SFB) swung to a profit after tax (PAT) of ₹50.9 Cr in the June quarter of the financial year 2026-27 (Q1 FY27) from a net loss of ₹10.1 Cr in the year-ago quarter. 

On a sequential basis, the bank’s PAT surged 149% from ₹20.4 Cr in Q4 FY26, according to its unaudited financials. Its profit for the quarter under review also surpassed the ₹48.4 Cr PAT it reported for the entire FY26.

slice’s total income rose 38.6% to ₹413.8 Cr during the quarter from ₹298.6 Cr in Q1 FY26. Sequentially, total income increased 3.5% from ₹399.7 Cr.  

The bank reported a profit before tax of ₹49.1 Cr during the quarter compared with a loss before tax of ₹10.1 Cr in Q1 FY26 and a profit before tax of ₹20.1 Cr in the preceding quarter. 

The bank’s gross loan book grew about 55% to ₹5,098 Cr as of June 30, 2026, from ₹3,284 Cr a year earlier. Its deposits nearly doubled to ₹5,765 Cr from ₹3,038 Cr during the same period, slice said in a statement. 

slice’s current account savings account (CASA) ratio stood at 43.9%, with CASA and retail term deposits together accounting for 94.7% of its total deposits. 

The bank’s total assets increased 54% YoY to ₹7,444 Cr, while its net worth rose 16.5% to ₹896 Cr. Its outstanding debt declined 23.2% to ₹507.3 Cr from ₹660.4 Cr a year earlier. 

Its capital-to-risk-weighted assets ratio stood at 18.2%, above the regulatory requirement of 15% for SFBs.

Meanwhile, slice’s gross non-performing asset (NPA) ratio improved to 4.36% from 6.31% in Q1 FY26. Its net NPA ratio declined to 3.24% from 4.66% during the same period.

The performance follows slice’s first profitable full financial year after its merger with North East Small Finance Bank (NESFB). The bank posted a profit Cr in FY26 against a net loss of ₹216.7 Cr in FY25. 

Founded by Rajan Bajaj in 2016, slice initially operated as a fintech startup offering consumer payments and credit products, including buy-now-pay-later services. 

slice and NESFB completed their merger in October 2024, combining their operations, assets and brand identities. The merged entity now operates as an RBI-licensed small finance bank, offering products across digital banking, lending and payments.

Earlier this year, the RBI approved Bajaj’s appointment as the MD and CEO of slice Small Finance Bank.

Before the merger, slice raised about $380 Mn from investors including Tiger Global, Insight Partners, Advent International’s Sunley House Capital, Moore Strategic Ventures, Anfa and Gunosy Capital.

It entered the unicorn club in 2021 after raising $220 Mn in its Series B funding round.

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