Results · Financial Services

Slice reports first full-year profit after bank conversion

What they do

Slice operates a digital bank offering UPI credit cards and savings accounts with daily interest

The company posted ₹48.4 Cr profit in FY26 reversing a ₹216.7 Cr loss from the previous year

This milestone follows its acquisition of North East SFB to become a regulated small finance bank

Slice reported its first full-year profit for FY26 ending March 2026.
The net profit was ₹48.4 Cr compared to a loss of ₹216.7 Cr in FY25.
Fourth quarter PAT stood at ₹20.4 Cr versus a loss of ₹89.9 Cr in Q4 FY25.
Total income surged 132% to ₹1,402.7 Cr from ₹603.8 Cr in the prior year.
Q4 total income rose 8% to ₹399.7 Cr from ₹370 Cr in the same period.
The company converted to a small finance bank (SFB) in October 2024 after regulatory changes.
It acquired North East SFB following an RBI clampdown on co-branded cards and BNPL products.
The acquired entity was renamed Slice Small Finance Bank to align with the brand identity.

The transition from a fintech startup to a regulated bank brings operational scrutiny and competition.
A Crisil report noted Slice restored loan book growth and expanded regional presence post-acquisition.
The company now faces competition from traditional banks and other neobanks in the digital space.
Regulatory changes forced the pivot from consumer credit products to a full-stack banking model.

Slice is an AI-native bank providing full-stack banking services across India.
It offers savings accounts linked to the RBI repo rate credited daily to users.
The platform features a UPI credit card usable anywhere UPI payments are accepted.
Users receive instant cashback rewards through Spark offers on various brands.
Accounts have zero balance requirements with no hidden charges or minimum balance rules.
The app provides automatic transaction categorization for food shopping travel and other expenses.
Corporate office is located in Koramangala Bangalore Karnataka.
Revenue comes from interest earned processing fees and third-party product sales.

The company continues to expand its UPI credit card service to all users.
Slice opened a UPI-powered bank branch in Bengaluru to enhance physical presence.

Tiger Global (lead) — Led the $220M Series B funding round alongside Insight Partners.
Insight Partners (co-lead) — Participated in the $220M Series B funding round led by Tiger Global.

Customers: Individual consumers seeking credit products, wealth management and banking services
How it makes money: Digital-first lending and small finance bank operations with credit card and investment products
What sets it apart: Pivoted from fintech unicorn to regulated Small Finance Bank with RBI approval