slice reports profitability in first full year as bank; revenue jumps 2.3X in FY26
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Startup Spotlight India
- May 31, 2026
Digital banking platform slice reported its first full-year profit since becoming a bank, while posting a 132% year-on-year increase in revenue for the financial year ended March 2026, according to the company’s audited financial results.
The Bengaluru-based company’s total revenue rose to Rs 1,403 crore in FY26 from Rs 604 crore in FY25. During the fourth quarter of FY26, slice reported total income of Rs 399.7 crore.
The company also recorded a sharp turnaround in profitability. It posted a net profit of Rs 48.4 crore in FY26 compared to a net loss of Rs 217 crore in the previous fiscal year. For the quarter ended March 2026, slice reported a profit of Rs 20.4 crore against a loss of Rs 89.9 crore in the corresponding quarter last year.
As of March 31, 2026, the company’s net worth stood at Rs 875.3 crore, while its Capital to Risk-weighted Assets Ratio (CRAR) was 19.1%. Slice also strengthened its balance sheet during the year, with its debt-to-equity ratio improving from 0.97 in FY25 to 0.14 in FY26.
“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.
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 company has raised nearly $400 million in funding to date, including a $220 million Series B round led by Tiger Global and Insight Partners.
In recent months, slice has accelerated its banking expansion following its merger with North East Small Finance Bank, which is expected to be rebranded as Slice Small Finance Bank. The company recently launched a UPI-powered bank branch in Bengaluru and expanded access to its UPI credit card product 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, while former SBI executive Sreedevi Pillai joined the board.
Slice’s return to profitability marks a significant milestone in its transition from fintech startup to regulated banking institution. As competition intensifies across the banking and digital payments ecosystem, the company will focus on sustaining growth while maintaining strong asset quality, efficient underwriting, and a stable deposit base.
The company’s evolution into a full-stack bank also brings increased regulatory oversight and operational responsibilities, making long-term execution and customer trust critical factors in its next phase of growth.
FAQs About slice’s FY26 Financial Performance
Q1. Did slice become profitable in FY26?
Yes. Slice reported a net profit of Rs 48.4 crore in FY26, compared to a net loss of Rs 217 crore in FY25.
Q2. How much revenue did slice generate in FY26?
The company reported total revenue of Rs 1,403 crore in FY26, representing a 132% year-on-year increase from Rs 604 crore in FY25.
Q3. What is slice’s current financial position?
As of March 31, 2026, slice had a net worth of Rs 875.3 crore and a Capital to Risk-weighted Assets Ratio (CRAR) of 19.1%.
Q4. What banking services does slice offer?
Slice operates as a full-stack digital bank offering savings accounts, fixed deposits, UPI services, credit products, and UPI-enabled banking solutions.
Q5. What recent developments have supported slice’s growth?
The company merged with North East Small Finance Bank, launched a UPI-powered bank branch in Bengaluru, expanded its UPI credit card offering, and strengthened its leadership team with key appointments approved by the RBI.
