Fino Payments Bank Holds 10th AGM on Sep 29, 2026, Discusses SFB Transition and FY26 Performance
Fino Payments Bank's 10th AGM was held on September 29, 2026. Discussions covered FY26 performance, GST investigations, and the in-principle approval to convert into a Small Finance Bank. Key management, including Interim CEO Ketan Merchant, presented future plans and strategies for growth and digital transformation.
The AGM covered discussions on the bank's strategic direction, including the significant development of receiving in-principle approval to convert into a Small Finance Bank. This transition has the potential for a medium-term impact on the bank's business model and future growth prospects.
The announcement is a summary of an AGM, which is a routine corporate event. While it discusses important strategic initiatives like the SFB transition and addresses past issues like GST investigations, it does not contain new financial results or significant positive/negative developments that would sway the sentiment beyond neutral.
Fino Payments Bank Limited held its 10th Annual General Meeting (AGM) on Tuesday, September 29, 2026, commencing at 12:00 Noon IST via Video Conferencing or Other Audio Visual Means. The meeting, chaired by Mr. Rajat Kumar Jain, Part-time Chairman & Independent Director, was attended by 43 members.
Key discussions included the bank's operational performance during FY26, growth in its low-cost liability base, merchant network, technology-led platforms, and customer relationships. The Chairman also addressed the GST-related investigation involving third-party program managers and technology service providers, highlighting the strengthening of KYC, anti-money laundering frameworks, transaction monitoring, cybersecurity, fraud prevention, and internal controls. Furthermore, the bank's in-principle approval from the Reserve Bank of India to convert into a Small Finance Bank (SFB) was a significant point of discussion, with the bank outlining its ambition to build a differentiated, trusted, and sustainable SFB for Bharat.
Interim CEO Mr. Ketan Merchant provided further insights into the SFB transition, the migration of the core banking system to Finacle, strengthening of compliance and governance, strategic recalibration of B2B UPI P2M business, growth in CASA and merchant network, development of lending capabilities, and focus on operating efficiency. He also expressed gratitude to stakeholders for their continued support.
The sole ordinary business item on the agenda was to receive, consider, and adopt the audited financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors. Members raised queries regarding merchant network expansion, future growth, SFB transition strategy, profitability, appointment of a regular MD & CEO, and the reason for the decline in market capitalization, to which the Interim CEO and Part-time Chairman provided detailed responses. The results of the e-voting, along with the Scrutinizer's Report, will be announced within two working days of the AGM's conclusion and communicated to the stock exchanges.
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Fino Payments Bank Limited filed this with the NSE as a statutory disclosure, categorised under agm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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