Fino Payments Bank Limited has informed the Exchange about Transcript
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Fino Payments Bank reported Q2 FY26 revenue of INR 400 crores, down 12% year-on-year, largely due to the decline in low-margin remittance and micro-ATM/AEPS businesses. Despite top-line pressure, EBITDA margin expanded sharply to 15.4%, up 284 basis points year-on-year, as the business mix shifted toward higher-margin CASA, which now contributes 40% of total revenue with a 54% segment margin. Deposits grew 36% year-on-year to INR 2,306 crores with a cost of funds at just 1.9%, and the bank added 9.1 lakh new CASA accounts during the quarter. Management expects H2 FY26 to be better than H1, with digital payments gradually recovering from regulatory tightening. The Small Finance Bank (SFB) licence is described as being in the final stages, with management expecting RBI approval in the next couple of months, which could potentially double net interest margins. The core banking platform migration is now targeted for completion by end of December 2025.
For shareholders, the transcript highlights a deliberate pivot from low-margin legacy transactions to higher-margin CASA and annuity income, supporting profit quality even as headline revenue declines. Near-term stock sentiment may hinge on the timing of SFB licence approval and digital payments recovery in H2 FY26.