Fino Payments Bank: September 2026 Business

Executive Summary Fino Payments Bank has released its provisional and unaudited business update for September 2026, demonstrating robust growth in core strategic areas, particularly in loan referrals, average deposits, and renewal income. While new account openings and core transaction throughput experienced a planned moderation, the bank's underlying fundamentals remain strong, supported by an expanding digital footprint and a highly resilient Current Account and Savings Account (CASA) base. Key Financial and Operational Highlights Surge in Loan Referrals: Disbursals through loan referrals witnessed an exceptional 223% year-on-year (YoY) growth, reaching ₹278 crore, up from ₹86 crore in September 2025. This underscores the bank's successful cross-selling and partnership monetization strategies. Steady Deposit Growth: Average total deposits expanded by 13% YoY to ₹2,794 crore (up from ₹2,480 crore). Consequently, the bank's overall CASA base strengthened significantly to 1.91 crore accounts. Account Acquisition: The bank opened 2,44,763 new deposit accounts during the month. While this represents a 17% YoY decline from the higher base of 2,94,846 accounts opened in September 2025, the cumulative customer base continues to scale efficiently. Transaction Volume and Cash Management Transaction Business: The core transaction business throughput saw a 10% YoY contraction, settling at ₹3,469 crore. Additionally, B2B UPI P2M throughput was recorded at nil for the month, compared to ₹961 crore a year ago, reflecting shifts in digital payment service alignments. Digital Adoption Metrics The bank continues to gain solid traction in digital customer engagement. Digitally active customers increased by 13% YoY to 64.9 lakh. Furthermore, the active user base for the flagship FinoPay platform grew by 12% YoY, reaching 8.1 lakh customers.