After years of burn, Slice looks to turn profitable in FY26

The return follows the transition to a bank organized in October 2024 after the last merger with the North East Small Finance Bank (Nesfb).

After the 2022 General of the Indian Reserve Bank, the tongue was among a few fintechs who were forced to stop offering credit line bids through prepaid payment tools (PPI) wallets. This effectively closed Slice’s popular card offer between young Indian users.

After the acquisition and merger with Nesfb, Slice stabilized its activities, switched to a digital bank financed by consolidated assets and deposit, founder and manager director Rajan Bajaj, Mint.

Bajaj said, “Now pat-positive.

However, the Küçük Finans Bank has not yet disclosed financial -controlled financies for 24 fiscal years, and its profitability target remains based on internal metrics.

Sliced ​​income increase in 23 financial years, reached La847 Crore is a three -storey increase compared to the previous year. However, this growth was accompanied by a significant increase in losses. La406 Crore is an increase of 59.8% from FY22.

Bajaj said, ık We have turned into a public institution right now, we have not yet listed it. ” “As a bank, you should be listed after a certain point. We want to do this in the next 3-4 years.”

Full banking status

Slice’s evolution from an out -of -bank lender to a full bank comes at a time when several Fintech peers still struggled with regulatory winds.

RBI rejected other applications for banking licenses, including NAVI’s, and Slice’s route – the merger with an existing bank – a Via – an exception.

With the license of Nesfb, Slice can reach its basic banking infrastructure and the ability to increase retail deposits and offer regulated credit products.

“We turned into a public institution, we haven’t listed yet,” he said that banks should be opened to the public after a certain point. Slice aims to list it in 3-4 years.

According to Bajaj, the bank has been included in approximately 3 lakh customers per month since October and claimed that the bank cheered the deposit base, but the actual value of the deposit has not been disclosed.

One of Slice’s key products is a repo-ration-related savings account that transfers 100% of the dominant repo ratio to deposit holders. Interest is calculated daily and deposited directly to users’ accounts. Bajj Most banks do not give customers full repo ratio. They offer 2.5-4%. We are changing it, ”he said.

This comes at a time when the RBI’s third ratio deduction brought to 5.5% in June and encourages banks to reduce FD interest rates and influence deposits.

UPI Link Credit Card

Slice bets on an UPI -linked credit card, which has 300 million inadequate services, but targeting users worthy of credit.

“We think that the credit card product will be redesigned for India, just as payments have been redesigned in the last 10 years,” Bajaj said.

The product allows users to make QR code -based UPI payments using approved credit limits. Bajaj said that approximately 5 million users have reached Slice loan so far and half of them are new loan customers.

Earlier this year, NPCI Chief Dilip Asbe underlined forcing 200-300 million users to pointing to the potential size of the addressable market for “breaking cash memory”.

Digital Branches

Slice has opened its first digital bank branch led by Bengaluru’s Koramangala, and has a slice of UPI ATM that allows cardless cash deposits and withdrawal operations using any UPI application. “You don’t have to move your bank card. This is a residue of the past,” Bajaj said.

Banks such as SBI and Hitachi have previously been piloting their UPI ATMs, while Slice plans to scale aggressively with facilities in 600 regions, including rural areas. Bajaj said that previous pilots suffer from low visibility and purchase.

Apart from other credit card players in Fintech, Slice compete with other small financial banks and potentially traditional banks in digital banking.

The bank also turns into an infrastructure that looks at the seller, such as current accounts, QR code -based collections and faster settlement cycles to become the primary digital bank layer for UPI users.

“In order to create a real UPI credit card ecosystem, you need to solve the problem for both consumers and traders.”

Bajaj on future donations, Slice, said that it is currently not actively looking for external capital and does not refer to strong deposit entries and capital adequacy. “We don’t have an official discussion right now. But as we need capital, we will raise it,” he said.

Since its establishment in 2016, the company has collected close to 342 million dollars in a large number of funding rounds from investors such as 360 One, Insight Partners and Tiger Global Management.