Fino Payments Bank Q1 results showed a net loss of ₹13.7 crore for the quarter ended June 30, 2026, compared with a profit after tax of ₹17.8 crore a year earlier. The bank disclosed the unaudited results and its investor presentation in a BSE filing on August 13, 2026.

Revenue stood at ₹306.9 crore in Q1 FY27, down 32% year on year and 10% sequentially. Net revenue declined 14% from a year earlier to ₹131.2 crore, while EBITDA fell 30% to ₹43.1 crore. The EBITDA margin improved by 44 basis points year on year to 14%.

The bank reported its highest quarterly net revenue margin of 42.8%, up 925 basis points year on year, supported by a higher contribution from the CASA business. CASA accounted for 54.1% of the revenue mix, compared with 34% in Q1 FY26.

Deposit franchise and digital activity expand

Average total deposits increased 12% year on year to ₹2,772 crore, while the cost of funds stood at 1.4%. The bank had 1.83 crore CASA accounts as of June 30, 2026, representing growth of 22% from the corresponding period. Average CASA balance was ₹1,280.

  • Digitally active customers reached 64.6 lakh in June 2026, up 22% year on year.
  • FinoPay users rose 38% to 8.4 lakh.
  • Digital throughput grew 7% to ₹63,400 crore.
  • UPI throughput increased 14% to ₹60,100 crore.
  • Total throughput advanced 10% to ₹1.11 lakh crore.

Loan referral disbursements rose 214% year on year to ₹628 crore during the quarter. According to the presentation, this was about half of the referral loans disbursed in the whole of FY26.

Small finance bank transition

Fino Payments Bank said preparations for its transition to a small finance bank were progressing on track. It has identified loan origination and loan management systems and partnered with a consultant for the transition. Discussions were also underway for identified senior leadership positions, while internal API integration development was progressing.

The roadmap presented by the bank targets final readiness submission to the Reserve Bank of India in Q4 FY27 and a go-live in Q1 FY28. Before that, the plan covers system requirement documents, product notes, credit policy frameworks, recruitment of senior and middle-management personnel, credit technology development, core banking integration, process validation and a readiness assessment.

The bank had 2,889 employees as of June 30, 2026. Its network comprised 20 lakh merchants and 126 branches and customer service points across the country, according to the investor presentation.

Source: BSE corporate announcement.