Merger-bound North East SFB appoints Satish Kumar Kalra as interim MD & CEO

Merger-bound North East Small Finance Bank has appointed Satish Kumar Kalra as interim MD and CEO, following the approval of the bank’s board and the Reserve Bank of India.

Kalra was earlier MD, CEO (in-charge), and Executive Director at Andhra Bank, which was later merged with Union Bank of India. He has expertise in Treasury Management, NPA Credit Management, and Risk Management and has worked as an independent director on the boards of PNB GILTS, Ind Bank Merchant Services, JK Cement Limited, and CanFin Homes.

At North East Small Finance Bank, Kalra will look to steer the bank towards a path of growth and stability, enhance branch management and the asset base, and further bolster stability.

He will also oversee strategic growth and business directives and spearhead the ongoing merger process between Slice and NE SFB, “dedicating particular attention to the optimisation of bank operations and ensuring a seamless cultural integration of the two entities,” the bank said in a release.

RBI had granted its no-objection certificate (NOC) for the proposed merger of the small finance bank with Fintech Slice in October 2023.

“This is a unique opportunity to be at the helm of what is poised to be a groundbreaking merger in the banking industry—a cross-cultural collaboration between two entities set to redefine the financial landscape by leveraging NE SFB’s grassroots banking and Slice’s digital prowess. I’m looking forward to guiding NESFB through this transformative phase,” Kalra said.