Fino Payments Bank Limited submitted its financial results for Q2 and H1 FY27 ending September 30, 2026 pursuant to Regulation 30 of SEBI Listing Regulations. The disclosure includes both audited half-yearly and unaudited quarterly results.

Key Business Highlights:

  • Achieved record quarterly renewal income of ₹74.6 crore in Q2'27, representing 7% YoY growth
  • Loan referral disbursals surged 286% YoY to ₹762 crore in Q2'27 and reached ₹1,390 crore in H1'27, already surpassing full FY26 disbursals
  • Launched two new products: 'Cash @ UPI' to support transaction business and 'Daily Deposit Plan' to scale deposits
  • Digitally active customers reached 64.9 lakh in September 2026, showing 13% YoY growth
  • UPI throughput stood at ₹60.8k crore for Q2'27, increasing 3% YoY

Operational Highlights:

  • Total throughput for Q2'27 reached ₹1.16 lakh crore, maintaining steady quarter-on-quarter momentum
  • Total transaction count for Q2'27 grew by 3% YoY and 6% QoQ to reach 100.6 crore
  • H1'27 transaction count stood at 195.3 crore, remaining stable compared to H1'26
  • CASA customer base increased 20% YoY to 1.91 crore as of September 2026
  • Average total deposits for Q2'27 stood at ₹2,794 crore (+12% YoY)
  • H1'27 average total deposits totaled ₹2,783 crore (+12% YoY)

Financial Highlights:

  • Revenue stood at ₹333.6 crore for Q2'27 (+9% QoQ) and ₹640.5 crore for H1'27 (-25% YoY)
  • Net Revenue Margin increased by 96 bps YoY to 38.1% in Q2'27
  • Net Revenue Margin increased by 512 bps YoY to 40.3% in H1'27
  • EBITDA for Q2'27 stood at ₹35.1 crore (-19% QoQ)
  • EBITDA for H1'27 was ₹78.2 crore (-37% YoY)
  • The Bank incurred net loss in Q1'27 (₹20.9 crore) and in H1'27 (₹34.6 crore)
  • Profitability impacted by investments in technology, infrastructure, talent, and operational capabilities

Small Finance Bank Transition Updates:

  • The Bank received 'In-principle' approval from RBI to convert into Small Finance Bank on December 5, 2025
  • Has onboarded senior leadership across Branch Banking, Liabilities, MSME and Credit Risk
  • Technology and infrastructure deployments progressing to meet SFB requirements
  • Actively refining product journeys, risk and governance frameworks to ensure regulatory compliance and operational excellence

Management Commentary:

Mr. Ketan Merchant, Interim Chief Executive Officer:

The Bank is in consolidation phase working towards strengthening core retail business and restoring growth momentum in B2B businesses. Growth in referral loan business demonstrates preparation for future transition and validation of differentiated SFB model.

Mr. Anup Agarwal, Interim Chief Financial Officer:

CASA vertical remained key growth driver with 9% YoY revenue growth. CASA's share of total revenue rose to 52%. Renewal income grew 7% YoY to ₹74.6 crore indicating strong customer retention. Profitability dipped due to margin compression and depreciation impact of core banking migration. Investments may pressure short-term earnings but support building resilient and sustainable bank through product innovation, financial discipline, and targeted growth.

Additional Information:

  • The Bank processed 195.3 crore transactions worth ₹2.27 lakh crore in H1'27
  • Backed by investors including ICICI Group, BPCL, Blackstone, LIC, and IFC
  • First Payments Bank to receive RBI in-principle approval for SFB conversion
  • Disclosure available on Bank's website: www.fino.bank.in