The new MD and CEO of Slice SFB were appointed by Rajan Bajaj

Bengaluru-headquartered lender Slice Small Finance Bank has appointed Rajan Bajaj as its new chief executive officer (CEO) and managing director. The appointment has been approved by the bank’s shareholders as well as the Reserve Bank of India, the company said.

Slice Small Finance Bank was created through the 2024 merger of Bengaluru-based fintech Slice and Guwahati-based North East Small Finance Bank. In 2023, the central bank had approved the appointment of former Andhra Bank senior executive Satish Kumar Kalra as CEO. Bajaj, who founded Slice, was subsequently appointed executive director of the newly formed bank.

In a statement, the bank said that for the first three quarters of FY26, Slice SFB reported a net profit of Rs 27.97 crore. Within one year of commencing full-scale banking operations, the bank has opened four million savings accounts.

Founded in 2016 by IIT Kharagpur alumnus Bajaj, Slice has raised over $250 million from investors including Tiger Global, Insight Partners and Advent International. Slice SFB currently serves more than 20 million registered users and employs over 3,000 people.

In its new phase, the bank aims to build a digital banking platform primarily targeting young consumers. “For the first time, technology makes it possible to offer every customer the kind of financial products that until recently were only available to the wealthiest few,” Bajaj said.

“AI is now reaching the point where it can make banking genuinely personal at scale, by understanding what each customer needs, and making complex financial decisions simple. We are building with that future in mind, and we think we are still very early in what is possible,” he added.