Slice: India’s Digital Bank Achieves Profitability with Significant Revenue Growth

Slice, a digital and AI-driven bank in India, has achieved profitability during its first complete fiscal year as a bank. The bank noted a remarkable 132% increase in revenue for the fiscal year ending March 2026, as highlighted in a press release from the company on Tuesday. The bank’s total revenue surged to Rs 1,403 crore in FY26, an increase from Rs 604 crore in FY25, according to the audited annual financial results.

Financial Growth Overview

For the quarter ending March 2026 (Q4 FY26), Slice reported a total income of Rs 399.7 crore. The annual report indicated a significant shift in the company’s bottom line, transitioning from a loss of Rs 217 crore in FY25 to a profit of Rs 48.4 crore in FY26. Q4 FY26 alone saw a profit of Rs 20.4 crore, compared to a loss of Rs 89.9 crore in the same quarter the previous year.

Key Financial Metrics

As of March 31, 2026, the company’s net worth was Rs 875.3 crore, while its Capital to Risk-weighted Assets Ratio (CRAR) stood at 19.1%. Furthermore, Slice improved its debt-equity ratio, reducing it from 0.97 in FY25 to 0.14 in FY26.

Company Insights

A spokesperson from Slice remarked that this year represents a crucial milestone as the bank continues to enhance access to credit and further develop its offerings. The company acknowledges that it remains in the initial phases of its banking adventure.

Company Background and Funding

Founded by Rajan Bajaj and Shikhar Sachdev, Slice operates as a comprehensive bank, providing services such as savings accounts, fixed deposits, UPI, and credit products. Based in Bengaluru, the company has successfully raised nearly $400 million in funding, including a $220 million Series B round spearheaded by Tiger Global and Insight Partners.

Operational Expansion

Recently, Slice has been broadening its banking activities following its merger with North East Small Finance Bank, which will be rebranded as Slice Small Finance Bank. The company has also inaugurated its UPI-enabled bank branch in Bengaluru and extended its UPI credit card service to all users after a phased introduction.

Leadership Enhancements

During this period, Slice has bolstered its leadership team, with the Reserve Bank of India approving Rajan Bajaj as the Managing Director and Chief Executive Officer. Former SBI executive Sreedevi Pillai has also joined the board.

Challenges Ahead

While Slice’s profitability marks a significant achievement, the company faces the larger challenge of maintaining margins as it operates as a regulated banking entity instead of merely a fintech credit platform. As competition escalates from traditional banks, neobanks, and UPI-focused entities, Slice must balance swift growth with prudent underwriting, low-cost deposits, and quality asset management.

The transition from a startup to a full-service bank also introduces increased regulatory and operational oversight, where long-term execution along with customer trust will be just as vital as scalability.