Slice names ex-Andhra Bank MD Satish Kalra as North East SFB’s interim chief

Over two months after its merger with fintech unicorn Slice, North East Small Finance Bank (NESFB) has appointed former Andhra Bank managing director and chief executive officer Satish Kumar Kalra as its interim MD and CEO.

The bank said it has received approval from the Reserve Bank of India and the company’s board for Kalra's appointment.

Kalra has earlier held independent director positions at PNB GILTS Ltd, Indbank Merchant Banking Services Ltd, JK Cement Ltd, and CAN FIN Homes Ltd.

"He will spearhead the ongoing merger process between Slice and NESFB, dedicating particular attention to the optimisation of bank operations and ensuring a seamless cultural integration of the two entities," the bank said in a statement.

In October, Bengaluru-based credit and payments company Slice merged with Guwahati-based North East Small Finance Bank after receiving regulatory approval.

Following the merger, Slice will cease to exist as a company. All Slice entities, including its NBFC licence, will be merged with the combined banking entity.

Slice shareholders own 95-97% stake in the merged entity; the remaining is owned by North East SFB shareholders.

Slice counts Tiger Global, Insight Partners, EMVC, Blume Ventures among its backers. It was last valued at about $1.5 billion in a funding round in 2022.