Bengaluru-based fintech-turned-bank Slice reported its first profitable fiscal year since transitioning into a banking entity, while recording a 132% year-on-year increase in revenue for the fiscal year ended March 2026.
According to the company’s audited annual financial results, total revenue grew to Rs 1,403 crore in FY26 from Rs 604 crore in FY25. The company also reported a profit of Rs 48.4 crore during the year, compared to a loss of Rs 217 crore in FY25. For the quarter ended March 2026 (Q4 FY26), Slice posted total income of Rs 399.7 crore and a profit of Rs 20.4 crore, reversing a loss of Rs 89.9 crore recorded in the corresponding quarter last year.
“This year marks a key turning point for us as we continue expanding access to credit and building the bank further,” a Slice spokesperson said, adding that the company remains in the early stages of its banking journey.
Strengthening Financial Position
Slice’s balance sheet also reflected improved financial health during FY26. The company reported a net worth of Rs 875.3 crore as of March 31, 2026, while its Capital to Risk-weighted Assets Ratio (CRAR) stood at 19.1%.
The company also strengthened its leverage profile, with its debt-equity ratio narrowing sharply from 0.97 in FY25 to 0.14 in FY26. The improvement comes as Slice continues integrating its banking operations following its merger with North East Small Finance Bank.
Founded by Rajan Bajaj, Slice operates as a full-stack digital bank offering savings accounts, fixed deposits, UPI services, credit products, and UPI-led banking solutions. The startup has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners.
Expansion and Leadership Changes
Over the past year, Slice has accelerated its banking expansion strategy. The merged entity is set to be renamed Slice Small Finance Bank, and the company recently launched its UPI-powered bank branch in Bengaluru while expanding its UPI credit card offering to all users after a phased rollout.
The company also strengthened its leadership team during the year. The Reserve Bank of India approved Rajan Bajaj as Managing Director and Chief Executive Officer of the bank, while former SBI executive Sreedevi Pillai joined its board.
While profitability marks a significant milestone, the company’s next challenge will be sustaining growth and margins in a highly competitive banking environment where regulatory compliance, asset quality, and customer trust remain critical to long-term success.
