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Digital payments revenue decline may persist
View Risks →Fino Payments Bank Limited — Q3 FY26
FINO Payments Bank reported Q3 FY26 revenue of 394.4 cr (-15% YoY) as transaction-led businesses continued to decline, but EBITDA grew 6% YoY to 63.9 cr with margin expansion of 320 bps to 16.2%, driven by a favorable revenue mix shift toward high-margin CA...
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FINO Payments Bank reported Q3 FY26 revenue of 394.4 cr (-15% YoY) as transaction-led businesses continued to decline, but EBITDA grew 6% YoY to 63.9 cr with margin expansion of 320 bps to 16.2%, driven by a favorable revenue mix shift toward high-margin CASA (41% of revenue). The key highlight was RBI's in-principle approval to convert to a Small Finance Bank, positioning FINO as the first payments bank to achieve this. Management guided for a phased lending build-up targeting 8,000-10,000 cr loan book by FY30, with a low-cost CASA base (~2,500 cr) enabling sub-1% credit costs and 20%+ ROE. Near-term headwinds persist in digital payments and CMS due to regulatory scrutiny and pricing pressure. Risk: Execution of SFB transition and lending scale-up may face delays or higher-than-expected costs.
फिनो पेमेंट्स बैंक ने तीसरी तिमाही में 394.4 करोड़ रुपये का कारोबार किया, जो पिछले साल से 15% कम है। लेकिन कंपनी का मुनाफा (EBITDA) 63.9 करोड़ रुपये रहा, जो 6% बढ़ा है। इसकी वजह यह है कि कंपनी ने ज्यादा मुनाफा देने वाले CASA (बचत खाता) पर ध्यान दिया, जो अब कुल कमाई का 41% है। सबसे बड़ी खबर यह है कि RBI ने फिनो को छोटा बैंक (SFB) बनने की मंजूरी दे दी है। अब कंपनी 2030 तक 8,000-10,000 करोड़ रुपये का कर्ज देने की योजना बना रही है। इससे कम लागत पर कर्ज मिलेगा और मुनाफा 20% से ज्यादा हो सकता है। फिलहाल डिजिटल पेमेंट और CMS में कड़ी निगरानी और कीमत दबाव है। जोखिम: SFB बनने और कर्ज बढ़ाने में देरी या ज्यादा खर्च हो सकता है।
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Read Transcript →Quarter Snapshot
Average CASA balance per account
₹1,314
+9% YoY
Average CASA balance improved to ₹1,314, reflecting better deposit quality and customer engagement.
Digitally active customers
60 lakh
+22% YoY
Digitally active customers grew 22% YoY to nearly 60 lakh, indicating strong digital adoption.
Renewal income
57 cr
+19% YoY
Renewal income grew 19% YoY to ₹57 cr, reinforcing recurring revenue stickiness.
Digital throughput share
55%
+9pp YoY
Digital throughput share rose to 55% from 46% a year ago, reflecting structural shift to digital.
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Guidance and risk preview
Management aspires to scale the loan book to ₹8,000-10,000 cr by FY30, with a phased and prudent approach, maintaining a credit-deposit ratio of ~7...
Digital payment revenue fell 43% YoY due to regulatory tightening and merchant onboarding slowdown; recovery depends on regulatory environment.
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