Ketan Merchant | Business Upturn

Fino Payments Bank reports highest ever quarterly CASA renewal income of ₹62.2 crore

Business Desk — Wed, 29 Apr 2026 13:49:05 +0000

Fino Payments Bank Limited has announced its financial results for the fourth quarter and full year ended 31st March 2026, highlighting a stable performance amidst operational challenges. The bank achieved its highest ever quarterly CASA renewal income of ₹62.2 crore, marking a 12% year-on-year increase.

The bank’s net-revenue margin reached a record 40% in Q4’26, with the CASA segment contributing 45%. Total deposits hit an all-time high of ₹2,957 crore on 14th March 2026, reflecting strong customer confidence.

For FY’26, Fino Bank reported a revenue of ₹1,587.9 crore, a 14% decrease year-on-year, while net revenue remained stable at ₹584.4 crore. Total throughput for Q4’26 decreased 17% year-on-year to ₹1,07,798 crores, with digital throughput at ₹65,269 crores, down 13% year-on-year. However, for FY’26, total throughput remained flat at ₹4,64,047 crores, with digital throughput increasing 16% year-on-year to ₹2,62,009 crores.

The customer base expanded to 1.75 crore, with approximately 6.9 lakh accounts added in Q4’26, including 3.2 lakh accounts in March 2026 alone. Average deposits rose 20% year-on-year in Q4’26 to ₹2,535 crore.

The referral lending business saw significant growth, with disbursements of ₹1,285 crore during FY’26. In Q4’26, referral loan disbursements surged by 97% over Q3’26 to ₹592 crore, driven by demand from rural India.

Interim CEO Mr. Ketan Merchant highlighted the bank’s institutional resilience and customer trust, while Interim CFO Mr. Anup Agarwal noted the strong business momentum and competitive positioning for the next phase.

The bank remains committed to governance continuity and institutional stability, having maintained full cooperation with authorities regarding ongoing investigations related to program managers associated with multiple banks.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fino Payments Bank invests Rs 200 crore in Finacle CBS migration

Arunika Jain — Wed, 15 Apr 2026 13:36:39 +0000

Fino Payments Bank has successfully migrated its Core Banking System (CBS) to Finacle, marking a significant milestone in its digital transformation journey. The bank has invested approximately ₹200 crore in this scalable and future-ready core banking system, which is poised to enhance performance and agility as part of its transition roadmap to becoming a Small Finance Bank (SFB).

The migration was executed through a phased approach, allowing for a temporary moderation in business volumes during the fourth quarter of FY26 to ensure system stability and data integrity. Despite the scale and complexity of the transition, it was completed within the anticipated timeline, showcasing strong execution and operational discipline.

Ketan Merchant, Interim CEO of Fino Payments Bank, commented on the development, stating that the migration represents a strategic investment in building a robust digital foundation for the future. The new modular architecture is designed to support efficient growth across liabilities, lending, and payments, significantly accelerating product launches and strengthening the bank’s readiness for its SFB journey.

Vinod Kumar, Chief Information Officer, highlighted the technological advancements brought by Finacle CBS, noting its agile and scalable design enhances transaction throughput, improves system resilience, and reduces time-to-market across various platforms, including UPI, CASA transactions, and merchant portal solutions. This creates a more integrated digital ecosystem for the bank.

The upgraded architecture introduces a decoupled, modular framework that allows for independent scaling of business lines while improving processing efficiency. The bank’s ‘Hollow the Core’ initiative further supports this by offloading high-frequency transactions from the core system, enhancing performance and reducing failure rates.

Additionally, the migration deepens the bank’s digital ecosystem, enabling tighter integration across merchant platforms and expanded digital capabilities. It supports new offerings such as virtual cards and the National Common Mobility Card (NCMC). The same Finacle license will be extended to the bank’s upcoming Loan Management System (LMS), ensuring value creation and alignment with its SFB roadmap.

With enhanced scalability, faster innovation cycles, and a resilient digital backbone, Fino Payments Bank is well-positioned to accelerate financial inclusion, strengthen customer engagement, and deliver sustained long-term value to all stakeholders as it steadily moves towards becoming a Small Finance Bank.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fino Payments Bank reports ₹540 crore in Q4 FY26 referral loan disbursements

Yash Agarwal — Wed, 25 Mar 2026 07:31:20 +0000

Fino Payments Bank is experiencing significant growth in its referral lending business, with Q4 FY26 disbursements already reaching approximately ₹540 crore as of 20 March 2026. This figure is expected to close at 90% of the ₹700 crore achieved in the first three quarters combined, indicating strong demand for credit products across the bank’s customer segments. Overall, the bank is on track to record close to ₹1,300 crore in referral loan disbursements for FY26.

The surge in disbursements reflects increased traction in rural credit demand, bolstered by Fino Payments Bank‘s extensive merchant network and deepening partnerships with Non-Banking Financial Companies (NBFCs). The bank has been actively building its credit distribution capabilities as part of its long-term strategy to transition into a Small Finance Bank (SFB).

Fino Payments Bank’s current pilot portfolio includes secured lending products such as home loans, gold loans, and loans against property, along with business loan offerings for merchants. Mr. Ketan Merchant, Interim CEO, noted the strong demand for secured credit products, particularly in rural and semi-urban markets. He emphasised that the referral lending model allows the bank to leverage its distribution strength while gaining a deeper understanding of customer credit needs.

Mr. Darpan Anand, National Head (Channel Sales), highlighted the role of the bank’s merchant network as a key growth engine. The network’s deep local connections and customer trust are facilitating the adoption of credit products, especially in underserved markets.

Fino’s extensive rural presence, with over 20 lakh merchant points and 1.7 crore CASA customers, enables last-mile access to formal credit. Through its partnership-led model, the bank is providing relevant and accessible credit solutions across India’s hinterlands.

These pilot initiatives are also helping the bank build credit assessment capabilities, train its network on loan origination, and understand customer repayment behaviour. The bank’s structured approach serves as a foundation for future credit expansion, aligned with its long-term strategic roadmap.

The bank recently recorded its highest-ever deposit balance during the current month, further reinforcing its strong fundamentals and readiness for the next phase of growth.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Yash Agarwal and reviewed by Markets Desk before publication.

Fino Payments Bank appoints Ketan Merchant as interim CEO

Business Desk — Sun, 08 Mar 2026 04:34:32 +0000

Fino Payments Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Mr. Ketan Merchant as the interim CEO. The approval, communicated through a letter dated 6th March 2026, is effective from 27th February 2026. Mr. Merchant will serve in this role for a period of three months or until Mr. Rishi Gupta resumes office, whichever is earlier.

The appointment of Mr. Merchant comes amid a reassessment of Mr. Gupta’s fit and proper status by the Nomination and Remuneration Committee (NRC) and the Board of Directors. The RBI’s decision will also play a crucial role in determining Mr. Gupta’s return to his position. The bank has assured stakeholders that this disclosure is available on its official website for further reference.

Fino Payments Bank, headquartered in Navi Mumbai, continues to operate under the regulatory framework of the SEBI Listing Obligations and Disclosure Requirements. The bank’s management has expressed confidence in Mr. Merchant’s ability to lead during this interim period, ensuring continuity in operations and strategic initiatives.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article was generated by Business Desk and reviewed by News Desk before publication.