Fino Payment Bank fundamnetals update details

Strong September business update: Average total deposits increased 13% YoY to ₹2,794 crore, indicating continued growth in the bank’s deposit franchise. Loan referral business is the biggest positive: September loan referral disbursals jumped 223% YoY to ₹278 crore, from ₹86 crore a year earlier. This is important because Fino is building a lending ecosystem ahead of its proposed Small Finance Bank transition. Digital customer base improving: Digitally active customers increased 13% YoY to 64.9 lakh, while FinoPay active customers increased 12% to 8.1 lakh. CASA franchise remains strong: The bank reported a CASA customer base of around 1.91 crore, supporting its long-term financial-inclusion and SFB strategy. CMS business is showing good momentum: CMS throughput increased 10% YoY to ₹6,918 crore. However, overall transaction-business throughput declined 10%, showing that the traditional payments business remains under pressure as the market shifts toward UPI/digital transactions. SFB transition remains the major long-term trigger: Fino received in-principle RBI approval in December 2025 to transition from a Payments Bank to a Small Finance Bank—a potentially significant structural change because it can allow the business to move toward a broader lending model. Management transition: RBI approved a further extension of Ketan Merchant’s tenure as Interim CEO for three months or until a regular MD & CEO takes charge, whichever is earlier. Management stability/appointment of a permanent CEO remains an important monitorable. Interim CFO tenure also extended: The board extended Anup Agarwal’s Interim CFO tenure by up to three months from October 6, 2026.