Fino Payments Bank revenue grows 4% amid regulatory headwinds

Fino Payments Bank recorded revenue of INR453 crores for Q1 FY26, up 4% year-on-year. EBITDA increased 16% to INR62 crores, with cash profit rising 20% to INR50.5 crores.

Growing businesses including CASA and digital payments contributed 57% of revenue, up 40% year-on-year. Average deposits rose 34% to INR2,275 crores.

However, the remittance business declined approximately 60% due to regulatory changes and increased UPI adoption. The bank is approaching merchant onboarding cautiously due to rising fraud concerns.

The SFB license application process continues, with expectations for a lending business launch within one year of approval.