Fino Payments Bank Limited has informed the Exchange about Transcript
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Fino Payments Bank reported Q4 FY'26 results following a challenging year marked by regulatory scrutiny and management disruption. Total revenue dropped 31% YoY due to industry-wide DMT remittance collapse and deliberate derisking of digital payments business. However, the deposit franchise showed strong resilience with customer base reaching 1.75 crore accounts (22% YoY growth) and total deposits hitting an all-time high of ₹2,957 crores. Renewal income in Q4 reached ₹62.2 crores, the highest in the bank's history, with full-year renewal income growing 25% to ₹237 crores. The bank completed its core banking system migration to Finacle (₹200 crore investment) and received RBI's in-principle approval to convert to a Small Finance Bank in December 2025. Capital adequacy stands robust at 83%. The bank has paused its UPI P2M digital payment business for a comprehensive review and plans to build a differentiated SFB focused on secured lending (housing, gold loans, LAP, MSME) through an asset-light, merchant-led model with a 300 basis point cost of funds advantage.
The bank's shift toward CASA and liability-focused growth with improved margins (250 bps QoQ expansion) positions it for sustainable profitability as it transitions to a Small Finance Bank. However, the paused digital payments business and ongoing management transition create near-term uncertainty. The strong deposit growth and renewal income validate customer trust despite operational challenges.