| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 62.96 | 4.7% | 27.6% |
| Total Income | 394.41 | 1.4% | 14.5% |
| Expenditure | 373.86 | 1.3% | 13.6% |
| PBT | 17.45 | 17.8% | 38.7% |
| Net Profit | 12.25 | 20.2% | 47.0% |
| OPM | 32.64% | 2.66pp | |
| NPM | 3.11% | 0.73pp | 1.90pp |
| EPS | 1.47 | 20.1% | 47.1% |
Fino Payments Bank's Average Deposits Grow by 32% YoY, Setting Stage for SFB Conversion
29 Jan 2026 · 29 Jan, 7:32 pm
Summary
Fino Payments Bank announced its financial and operational performance for the quarter ended December 31, 2025. The bank achieved a significant milestone by becoming the first and only Payments Bank to receive In-principle approval from the RBI to convert into a Small Finance Bank. The bank's average deposits grew by 32% YoY, indicating strengthening customer ownership and balances.
Key Highlights
- 1
Fino Payments Bank's Average Deposits grew by 32% YoY
- 2
Revenue for Q3’26 stood at 2394.4 cr (down 15% YoY) and for 9M’26 stood at %1,247.9 cr (down 8% YoY)
- 3
Net revenue for Q3’26 remained stable at 3147.9 cr while seeing a 5% YoY growth in 9M’26 to 2448.4 cr
- 4
EBITDA grew 6% YoY to 263.9 cr in Q3’26, with the Bank posting its highest-ever EBITDA margin of 16.2% (+300 bps YoY)
- 5
Profitability moderated in Q3’26, with PBT declining 39% YoY to 317.5 cr
- 6
Total throughput for Q3’26 was 2118.1k cr and for 9M’26 was 3356.2k cr (up 8% YoY)
- 7
Digital throughput increased to 366.1k cr in Q3’26 (up 12% YoY) and to 2196.7k cr in 9M’26 (up 31% YoY)
- 8
8.7 lakh new accounts were opened in Q3’26, indicating steady acquisition momentum
- 9
Customer average balance rose by 9% YoY to 21,314
- 10
Digitally active customers grew 22% YoY to 59.8 lakh customers in Dec’25
Management Comments
Rishi Gupta
Managing Director & CEO
We recently achieved two big milestones that will have strategic and structural impact on Fino from a long-term perspective. Firstly, the December ending quarter has been remarkable as our strategic vision of converting into an SFB received a nod from the regulator. As we prepare ourselves for the conversion, our focus remains on improving current business, and strengthening the digital ecosystem, which will pivot our phygital model and scale new heights.
Ketan Merchant
Chief Financial Officer
Our margins on YoY basis have increased by 5.4% on the back of rise in ownership business, this has compensated the temporary moderation of digital revenue. Excluding one offs of 23.1 crore on account of New Labour Code guidelines implementation, our profit on a YoY basis has moderated by 34%. Our long term focus on digital and ownership products remains upbeat and these would be the cornerstone of our SFB strategy.”
Informational and educational content only. Not investment advice.