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Fino Payments Bank announced its business performance for April on May 8 after market hours, reporting steady growth in deposits and strong traction in its loan referral business.
Average total deposits increased 13% year-on-year to ₹2,801 crore, reflecting sustained growth in the deposit franchise, signalling steady progress in its transition toward a more comprehensive banking model. New account openings rose 9% to 2.3 lakh in April, while renewal income, a proxy for customer retention, also grew 9% to ₹19.3 crore.
The bank added that CASA now accounts for a growing share of its revenue base, which it expects will support meaningfully better margins in FY27 compared to FY26.
In April, Fino Payments Bank reported deposits crossing ₹2,801 crore, a 13% year-on-year increase. Their loan referral business saw significant growth, with disbursals tripling compared to April 2025.
Fino Payments Bank's loan referral business has gained strong traction, with disbursals reaching around ₹166 crore in April, which is more than a threefold increase compared to April of the previous year.
The decline in transaction business throughput, including remittance and micro-ATM services, was attributed to a broader ecosystem shift from cash to UPI and Fino Payments Bank's strategic pivot towards higher-quality merchants.
Fino Payments Bank is focusing on consistent customer acquisition, deeper digital engagement, and sustained deposit mobilization. The increasing share of CASA in its revenue base is expected to support meaningfully better margins in FY27 compared to FY26.
Fino Payments Bank's profit after tax (PAT) saw a sharp decline of 70% year-on-year, dropping to ₹7.1 crore in the fourth quarter.
Fino Payments Bank also said its loan referral business continued to gain strong traction during the month.
Disbursals rose to around ₹166 crore, reflecting more than threefold growth compared to April 2025. The continued momentum in this segment supports the bank’s long-term strategy of building key guardrails for its differentiated Small Finance Bank (SFB) model.
Meanwhile, the bank witnessed a decline in certain business metrics. Transaction business throughput, which includes remittance, micro-ATM, and AePS, fell 47% year-on-year to ₹2,649 crore. The bank attributed the decline to the broader ecosystem shift from cash to UPI and its strategic pivot toward higher-quality merchants.
Additionally, B2B UPI person-to-merchant throughput dropped sharply by 96% to ₹101 crore, as the bank said it is deliberately slowing down this segment to rebuild it on a more risk-calibrated and sustainable basis.
Looking ahead, the bank said its focus on consistent customer acquisition, deeper digital engagement, and sustained deposit mobilisation will continue to shape how it deploys its network and allocates priorities.
The bank added that the ongoing shift in product mix, with CASA accounting for a growing share of the revenue base, positions it to capture meaningfully better margins compared to FY26.
Meanwhile, the bank's profit after tax (PAT) dropped sharply by 70% YoY to ₹7.1 crore in Q4.
The bank’s shares have been struggling to gain traction on the exchanges, remaining under pressure since September 2024. Although the stock attempted a recovery on multiple occasions, those gains were later sold into, deepening the decline further.
The stock closed in the red for four straight months between December 2025 and March 2026, losing a cumulative 63%, which dragged it 71% below its September 2024 peak of ₹467 apiece.
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Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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