Fino Payments Bank FY'26 Revenue Declines 14% to ₹1,587.9 Cr; Q4'26 Net Revenue Margin Hits 40%
Fino Payments Bank reported FY'26 revenue of ₹1,587.9 Cr (down 14% YoY) and Q4'26 net revenue margin of 40%. Total deposits reached ₹2,957 Cr by March 2026. Referral lending disbursements were ₹1,285 Cr in FY'26. The bank also completed its CBS migration and reiterated its transition to an SFB.
The decline in revenue and ongoing legal matters have a moderate impact, while the strong performance in margins and deposits, along with the planned transition to an SFB, presents positive aspects.
The company reported a decrease in revenue but highlighted strong performance in net revenue margin, CASA renewal income, and total deposits. The legal proceedings add a neutral to slightly negative undertone.
Fino Payments Bank Limited announced its financial and operational results for the fourth quarter and full year ended March 31, 2026 (Q4’26 and FY’26) on April 29, 2026. The bank reported a stable performance, highlighting a net-revenue margin of 40% in Q4’26, with the CASA segment contributing 45%.
For the full financial year 2026, the bank's revenue stood at ₹1,587.9 crore, marking a 14% year-on-year decrease. However, the net revenue remained stable at ₹584.4 crore for FY’26. Total throughput for FY’26 was ₹4,64,047 crore, with digital throughput at ₹2,62,009 crore, up 16% YoY. Customer base reached 1.75 crore, with average deposits rising 20% YoY in Q4’26 to ₹2,535 crore. The bank achieved its highest ever quarterly CASA renewal income of ₹62.2 crore in Q4’26, a 12% increase YoY.
Referral lending saw significant growth, with disbursements of ₹1,285 crore during FY’26. In Q4’26, referral loan disbursements reached ₹592 crore, a 97% growth over Q3’26. The bank completed its Core Banking System (CBS) migration in Q4’26, a step towards accelerated future growth.
Mr. Ketan Merchant, Interim CEO, stated that the bank’s performance reflects its institutional architecture and customer confidence, evidenced by total deposits reaching an all-time high of ₹2,957 crore in March 2026. He added that the lending referral business serves as a pilot for their Small Finance Bank (SFB) model. Future priorities include building robust governance and operationalizing a differentiated, asset-light business model suited for SFB licensing.
Mr. Anup Agarwal, Interim CFO, noted the highest-ever quarterly net-revenue margin of 40% and record CASA renewal income of ₹62.2 crore in Q4’26, indicating business momentum. He also highlighted the stability of EBITDA and the evolving product mix.
Regarding recent developments, the bank reiterated its commitment to governance continuity and uninterrupted service. The Hon'ble Special Judge for Economic Offenses, Nampally, Hyderabad, granted bail to Mr. Rishi Gupta on March 26, 2026. The bank clarified that the investigation pertains to certain program managers associated with multiple banks and is not related to Fino Bank's own GST compliance.
Fino Payments Bank received 'in-principle' approval from RBI to convert into a Small Finance Bank on December 5, 2025.
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