Q4 2026 Fino Payments Bank Ltd Earnings Call Transcript
Key Points
- Fino Payments Bank Ltd (BOM:543386) reported a 22% year-on-year growth in its customer base, reaching 1.75 crore by the end of March 2026.
- The bank achieved an all-time high total deposit balance of 2,957 crores, with a significant focus on CASA and liability generation.
- Renewal income for Q4 FY26 reached 62.2 crores, marking the highest single-quarter renewal in the bank's history, with a full-year growth of over 25%.
- The core banking system migration to Pinnacle was completed, enhancing the bank's technology infrastructure and reducing transaction failure rates.
- The bank maintained a low cost of funds, below 2% on the core CASA book, providing a competitive advantage as it transitions to a Small Finance Bank (SFB).
- Total revenue for the quarter dropped by 31% year-on-year, and full-year revenue declined by 14%, primarily due to regulatory-driven contraction in digital payments.
- Throughput from B2B digital payments decreased by approximately 17% sequentially in Q4 2026, reflecting a deliberate recalibration of the bank's risk framework.
- The bank's digital payment revenue declined from 63 crores in Q3 to 41 crores in Q4, due to a strategic pause in high-margin program manager flows.
- Operating expenses, including depreciation, grew by 9% year-on-year, absorbing the costs of the core banking system migration.
- The bank faces challenges in transitioning certain business lines, such as business correspondence, which will not be allowed under the SFB model.
(Operator Instructions). I now hand the conference over to Ms. Sheetal Khanduja from Go India Advisors.
Thank you and over to you, ma'am.
Thank you. Good afternoon, everyone, and welcome to the Q4 FY26 earnings call of Fino Payments Bank, hosted by Go India Advisors. We have on the call Mr. Ketan Merchant, Interim Chief Executive Officer, Mr. Anup Agarwal, Interim Chief Financial Officer, Mr. Shailesh Pandey, Chief Business Officer, and Mr. Tejas Maniar, Chief Digital and Liabilities Officer. We must remind you that the discussion on today's call may include certain forward-looking statements and must be therefore viewed in conjunction with the risks that the company faces. May I now request the management to take us through the financials and the business outlook, subsequent to which we will open the floor for Q&A.
Thank you, and over to you, Ketan.
Thank you,
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