New Delhi, April 16 -- Since its merger-led transition into a bank in 2024, Slice has been moving away from an almost fully unsecured lending portfolio to a large, secured loan book, the bank's top executive told Mint. Managing director and chief executive Rajan Bajaj said secured lending, which currently accounts for about 22% of the company's portfolio, is expected to become the dominant segment over the next decade.

"For us, secured business is growing faster than unsecured and will continue this way. Long term, the majority of the book will be secured and diversified," Bajaj said.

Slice, which built its early business on unsecured consumer credit, is now leveraging its banking licence to expand into asset-backed segments. Founded in...