Fino Payments Bank Q3 FY26 Results: Revenue at ₹394.4 Cr, PBT at ₹17.5 Cr
Fino Payments Bank reported Q3 FY26 revenue of ₹394.4 crore and PBT of ₹17.5 crore. Digitally active customers grew 22% YoY to 60 lakh, and average deposits rose 32% YoY to ₹2,496 crore, with a low cost of funds at 1.7%. The bank has received in-principle approval to convert into a Small Finance Bank.
The results show a decline in key financial metrics like revenue and PBT, which could concern investors in the short term. However, the improvement in net revenue margin, growth in digital engagement, and the significant strategic development of receiving in-principle approval for an SFB conversion indicate potential for future growth, balancing the immediate impact.
While the bank reported improvements in Net Revenue Margin and digitally active customers, the overall revenue and PBT saw a year-on-year decline. The strategic move towards becoming an SFB is a positive long-term outlook, but current financial performance shows mixed results.
Fino Payments Bank Limited has released its investor presentation for the third quarter and nine months ended December 31, 2025. The bank reported a revenue of ₹394.4 crore for Q3 FY26, a decrease of 15% year-on-year. Profit Before Tax (PBT) stood at ₹17.5 crore, down 39% year-on-year. However, Net Revenue Margin improved by 540 basis points to 37.5%, and EBITDA saw a 6% increase to ₹63.9 crore.
For the nine-month period ended December 31, 2025 (9M'26), revenue was ₹1,247.9 crore, an 8% decrease year-on-year, while PBT was ₹63.3 crore, a 20% decrease. The bank highlighted operational improvements, with a 22% year-on-year increase in digitally active customers to approximately 60 lakh and a 32% rise in average deposits to ₹2,496 crore. The cost of funds remained low at 1.7%.
The presentation also detailed the bank's strategic shift towards becoming a Small Finance Bank (SFB), with an in-principle approval from the RBI. Key initiatives include strengthening the liability franchise, building a secured credit book, and leveraging technology. The bank aims to achieve a customer base of 326 lakh by March 2030 and grow its Assets Under Management (AUM) to ₹8,000-₹10,000 crore by FY30. The bank has successfully migrated to the Finacle Core Banking Platform.
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