SHILLONG, Oct 15: North East Small Finance Bank’s (NESFB) upcoming merger with slice reaffirms its unwavering commitment to North East India as it embarks on a journey of integrating technology with community-driven financial inclusion. This strategic convergence will not only fortify the enduring pledge to North East but also catalyse the widespread expansion of financial inclusion throughout the nation.
The forthcoming merger is expected to mark a significant milestone for the entire North East region, serving as a monumental leap forward. The cumulative Tier 1 CAR post-merger will exceed 25%. Furthermore, it will serve as a vital role in connecting North Eastern residents living across the nation with a financial institution deeply rooted in their heritage.
NESFB’s vision extends beyond regional boundaries, aspiring to establish a strong national presence that will substantially enhance both its branch network and customer outreach. In pursuit of this goal, NESFB is steadfast in assuring its valued customers that its core identity remains uncompromised. This endeavour represents a paradigm shift, wherein a bank with a concentrated focus on the North Eastern region of India will cultivate a pan-India presence while preserving its core principles and values.
Part-time Chairman, NESFB, Dr Ram Krishna Garg, added, “Our commitment to the people of North East remains strong as ever. This collaboration with slice unites our grassroots banking foundation and slice’s digital prowess. With the guidance of the Reserve Bank of India, we are advancing towards a brighter future, setting an example for the entire nation in cross-cultural collaboration and unity.”
Business Head, NESFB, Pritesh Nath, said, “This merger brings the essential capital and technological infrastructure required to advance banking in the North East region, thereby facilitating the economic upliftment of the local communities. We are excited about the new prospects that come with this partnership, as we audaciously head towards becoming the most loved bank of India.”
