Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q3 FY2026 Earnings Presentation
40 slides from Fino Payments Bank's earnings presentation, Jan 29, 2026
Slide 1: Exchange filing cover letter
January 29, 2026 BSE Limited National Stock Exchange of India Limited P.J. Towers, Exchange Plaza, 5th Floor, Plot No. C/1, G Dalal Street, Block, Bandra - Kurla Complex, Mumbai- 400 001 Bandra (E), Mumbai - 400 051 (Scrip Code: 543386) (Symbol: FINOPB) Dear Sir/Madam, Sub: Investor Presentation und
Slide 2: A new chapter begins… Investor Presentation Q3 & 9M FY'26
A new chapter begins… Investor Presentation Q3 & 9M FY’26
Slide 3: Table of Content
Table of Content 01 Strategic Update 02 SFB Strategy 03 Financial Highlights 04 Fino 2.0 – Digital Update 05 Product Level Performance
Slide 4: Strategic Update
Preset, com OE Strategic Update ‘Ab FinoPay se gasoni se bharo aur koro, WI
Slide 5: Strategic Update: In-principle Approval for Migration to New-Gen Technology Platform
Strategic Update In-principle Approval for Migration to New-Gen Small Finance Bank Technology Platform Finacle Core Banking Platform successfully live Once in a Lifetime Achievement Once in a decade achievement One of the most complex activities for a bank #Towards Small Finance Bank 4
Slide 6: Milestones
Milestones First First private First & the only Launched own Annuity First Payments India’s first and Payments sector Payments Bank UPI Switch, Income Bank to only Payments Bank to Payments Bank in India to get among a select surpassed achieve 5 Bank to receive become to become a listed on the few b
Slide 7: Key Highlights – Q3'26
Key Highlights – Q3’26 Strengthening the Deposit Franchise – Average deposits grew by 32% YoY to ₹ 2,496 Cr at 1.7% cost of funds, supported by strong CASA acquisition momentum Building Long-term Customer Confidence – Active and engaged customer base evidenced by rising balances (9% YoY growth to ₹
Slide 8: Performance At a Glance – Q3'26 (YoY)
Performance At a Glance – Q3’26 (YoY) Operational Highlights Financial Highlights Liability Franchise Digital Footprint Total Throughput Revenue CASA Accounts* Digital Throughput ₹ 118.1k Cr ₹ 394.4 Cr 1.68 Cr ₹ 66.1k Cr - 15% 25% 12% Transaction Net Revenue Average Digitally Active Count Margin Dep
Slide 9: Performance At a Glance – 9M'26 (YoY)
Performance At a Glance – 9M’26 (YoY) Operational Highlights Financial Highlights Liability Franchise Digital Footprint Total Throughput Revenue CASA Accounts* Digital Throughput ₹ 356.2k Cr ₹ 1,247.9 Cr 1.68 Cr ₹ 196.7k Cr 8% 8% 25% 31% Transaction Net Revenue Average Digitally Active Count Margin
Slide 10: Delivering Long Term Sustainable Value
Delivering Long Term Sustainable Value Cash Profit Accretion (₹ Cr) Reinvesting in Technology (Capex) (₹ Cr) 191.2 164.5 149.6 144.7 112.2 103.8 94.5 118.1 64.4 85.4 FY'22 FY'23 FY'24 FY'25 9M'26 FY'22 FY'23 FY'24 FY'25 9M'26 ₹ Net-Worth (₹ Cr)* Earning Per Share (₹)^ 746.9 799.0 10.4 11.1 643.2 552
Slide 11: Daily Average Throughput - Trend
Daily Average Throughput - Trend Daily Average Throughput (₹ Cr) 2.5x times 1,263 1,295 979 8% YoY Growth 699 513 Headcount 2,893 2,897 FY'22 FY'23 FY'24 FY'25 9M'26 Productivity keeps improving - Daily throughput has grown ~2.5 times with a similar employee base #Towards Small Finance Bank 10
Slide 12: Geographical Presence
Geographical Presence (in 000’s) Jammu & Kashmir 4.4 Himachal Pradesh 6.4 Punjab 51.7 Meghalaya 2.2 Uttarakhand 11.9 Haryana 55.1 Sikkim 2.6 Assam 37.6 Merchants* Branches & Delhi 40.7 Uttar Pradesh 350.0 (‘000) CSPs Tripura 6.4 Merchant / Mix Count / Mix Rajasthan 139.0 Bihar 276.4 2,056 / 100% 126
Slide 13: SFB Strategy
aaa ls Sh tee a SFB Strategy ‘Ab FinoPay se gasoni se bharo aur koro, WI
Slide 14: Proposed SFB Strategy
Proposed SFB Strategy SECURED PAYMENTS ++ CREDIT NFI : NII* MODEL BOOK (75 : 25) BUILDING LIABILITY CREDIT TO MONETISATION BACKED KNOWN THROUGH LENDING MERCHANT / CROSS SELL FRANCHISE CUSTOMER *Net Fee Income : Net Interest Income #Towards Small Finance Bank 13
Slide 15: Sustained Customer Acquisition Momentum
Sustained Customer Acquisition Momentum Customer Base (lakh) 326 286 246 206 176 143 110 78 Mar'23 Mar'24 Mar'25 Mar'26 E Mar'27 E Mar'28 E Mar'29 E Mar'30 E Customer Acquisition Strategy - FY’30 Continue to acquire customers @ 2.5 - 3 L per Innovative service propositions to enhance month customer
Slide 16: Liability First Approach
Liability First Approach SFB Booster Particulars Deposit (₹ Cr) Cost of Funds (%) Payments Bank 2,500 1.7% Dec’25 CMS / Digital Overnight Float of ~₹ 500 Cr + Payments Bank 4,800 1.7% (FY’26 – FY’30) Offer FD / RD products + SFB Booster 6,000 6.6% Higher Ticket Size Savings Account- Premium / Senior
Slide 17: Asset Product Offering
Asset Product Offering Affordable Housing Secured Business Personal Loan Loans (MSME) Lending Gold Loan Products LAP / Micro LAP A well-diversified lending portfolio anchored by a predominantly secured mix of ~90% #Towards Small Finance Bank 16
Slide 18: Core Strength- Distribution Network
Core Strength- Distribution Network Extensive Physical Footprint Strategic Advantages Existing Physical Touchpoints 97% Pin Code Coverage Across India Asset-Light Operations Customer Merchant Branches Merchants acting as service centers - Service Points Network No heavy branch infrastructure require
Slide 19: Key Differentiator - Technology
Key Differentiator - Technology Leveraging the existing technology ❑ Best-in-class and agile technology ❑ Hollow-the-Core (HTC) strategy for scalability Optimising digital footprint, with seamless technology ❑ Future-ready BI modules for work flows ❑ Implementation of Kubernetes based systems for au
Slide 20: SFB Execution Roadmap
SFB Execution Roadmap Execution Phases Phase 1 Phase 2 Phase 3 Tech SFB Growth & Migration Operationalization Scaling Finacle CBS live 12-18 months Build ₹ 8k - 10k Cr AUM (Jan'26) ~100 Crore Investment by FY’30 Medium-Term Financial Targets 20%+ < 1% < 4% Return on Equity (ROE) Credit Cost Cost of
Slide 21: Key SFB Metrics v/s. FINO SFB Post 3 Years of Operation
Key SFB Metrics v/s. FINO SFB Post 3 Years of Operation EXISTING FINO SFB Remarks SFBs (FY 30) NII % ~ 74% ~ 25% Payments business continues to be a major contributor to revenue Cost of Funds ~ 7.4% < 4% Operate as a low cost liability franchise CASA Ratio ~ 27% ~ 65% Higher CASA ratio supporting lo
Slide 22: Financial Highlights
Preset, com OE Financial Highlights ‘Ab FinoPay se gasoni se bharo aur koro, WI
Slide 23: Bank Level Profit & Loss
Bank Level Profit & Loss Particulars (₹ Cr) Q3’25 Q2’26 Q3’26 QoQ (%) YoY (%) 9M’25 9M’26 YoY (%) Revenue 461.3 400.1 394.4 (1%) (15%) 1,353.6 1,247.9 (8%) Product Cost 313.3 251.4 246.5 2% 21% 927.1 799.5 14% Net Revenue 148.1 148.6 147.9 - - 426.5 448.4 5% Net Revenue Margin % 32.1% 37.1% 37.5% 40
Slide 24: Financial Highlights
Financial Highlights Revenue (₹ Cr) EBITDA (₹ Cr) 1,847.1 234.4 1,478.4 191.4 187.1 1,229.9 1,247.9 136.1 11.1% 12.9% 12.7% 15.0% FY'23 FY'24 FY'25 9M'26 FY'23 FY'24 FY'25 9M'26 PBT (₹ Cr) Cost-to-Income (%) 108.3 30.9% 26.3% 26.5% 25.6% 86.3 65.1 63.3 5.3% 5.8% 5.9% 5.1% FY'23 FY'24 FY'25 9M'26 FY'
Slide 25: Product Revenue Mix
Product Revenue Mix YoY (₹ Cr) 461.3 1,353.6 1,247.9 7%, 32.0 7%, 97.2 394.4 9%, 120.9 8%, 105.3 9%, 40.7 5%, 24.2 9%, 34.8 5%, 71.4 8%, 94.9 8%, 29.6 8%, 100.9 25%, 115.4 8%, 35.1 31%, 418.1 19%, 238.2 18%, 69.4 19%, 232.5 24%, 109.7 16%, 62.7 19%, 255.9 41%, 162.8 38%, 476.3 30%, 139.2 29%, 390.1
Slide 26: Product Portfolio – Growth & Margins
Product Portfolio – Growth & Margins Q3’26 Revenue Combined 9M’26 Revenue Q3’26 Combined 9M’26 Product (₹ Cr); Revenue (₹ Cr); Margins Margin Margins YoY Growth Mix YoY Growth Growing Business CASA* 162.8 476.3 54% 54% 17% 22% 57% 44% Digital Payment 62.7 232.5 20% 20% Services (43%) (9%) Stable Bus
Slide 27: Fino 2.0 Digital Update
Preset, com OE Fino 2.0 Digital Update ‘Ab FinoPay se gasoni se bharo aur koro, WI
Slide 28: Digital Payments – Fino Ecosystem
Digital Payments – Fino Ecosystem Q3’25 Q2’26 Q3’26 Digital Throughput (in ₹ Cr) 58,992 62,771 66,097 YoY (%) 54% 32% 12% Digital Transaction Count (in Cr) 76.6 87.1 89.4 YoY (%) 69% 33% 17% UPI Transactions Ecosystem 4,880 5,911 6,280 (in Cr) Fino’s UPI Contribution (%) 1.57% 1.45% 1.41% Technical
Slide 29: Digital Momentum
Digital Momentum Transaction Count (in Cr) Digital Throughput (₹ Cr) Revenue (₹ Cr) 66% CAGR 70% CAGR 24x times Q3 5.9 5.0 4,381 109.7 5,940 11.7 11,622 3,389 63.4 62.7 3.6 81.2 84.4 61,716 64.9 56,831 47,371 28.8 41.8 34,797 19.6 13,437 2.6 Q3'23 Q3'24 Q3'25 Q2'26 Q3'26 Q3'23 Q3'24 Q3'25 Q2'26 Q3'2
Slide 30: Digital & Non-Digital – Throughput Trend
Digital & Non-Digital – Throughput Trend Non Digital Digital Revenue Generating Total Throughput ₹ 49,168 Cr ₹ 93,323 Cr ₹ 118,133 Cr 41% 56% 10% Q3 Q3’22 90% Q3’24 73% Q3’26 51% 90% 59% 44% Total Throughput ₹ 134,043 Cr ₹ 255,698 Cr ₹ 356,249 Cr 35% 55% 8% 9M 9M’22 92% 9M’24 75% 9M’26 54% 92% 65% 4
Slide 31: Product Level Performance
Fone, hee sho | Product Level ‘yaa kisi aur ka bhi ho b, ‘Ab FinoPay se gasoni se bharo aur koro, WI Performance
Slide 32: Customer Acquisition to Ownership
Customer Acquisition to Ownership Q3’25 Q2’26 Q3’26 Expanding CASA base through New CASA Accounts Opened 8.3 9.1 8.7 ecosystem-led engagement (in lakh) Rural 4.9 5.6 5.3 Semi-Urban 1.7 1.8 1.8 Neighbourhood Digital Urban 1.7 1.7 1.5 Banking Onboarding No. of CASA Accounts (in lakh) 134.4 159.0 167.7
Slide 33: Customer Stickiness (Q3 - YoY)
Customer Stickiness (Q3 - YoY) Renewal Income (₹ Cr) Customer Avg. Balance (₹) 45% CAGR 9% CAGR 57.0 1,314 47.8 1,205 31.4 1,098 1,015 18.7 Q3'23 Q3'24 Q3'25 Q3'26 Q3'23 Q3'24 Q3'25 Q3'26 Total Revenue Renewal Revenue 14% 8% 10% Q3’23 6% Q3’24 Q3’25 Q3’26 94% ₹ 314.1 Cr 92% ₹ 370.2 Cr 90% ₹ 461.3 Cr
Slide 34: Average Deposits & Cost of Funds - Trend
Average Deposits & Cost of Funds - Trend (₹ Cr) 5x times 2,496 Average Deposits 2,306 2,275 2,116 Cost of Funds 1,890 1,699 1,696 1,540 1,358 1,243 1,267 1,103 Edge 955 over 810 851 Competition 689 573 475 489 2.2% 2.2% 2.2% 2.1% 2.1% 2.1% 2.1% 2.0% 2.0% 2.0% 2.0% 1.9% 1.9% 1.9% 1.8% 1.7% 1.7% 1.6%
Slide 35: D2C Customer – UPI (Q3 - YoY)
D2C Customer – UPI (Q3 - YoY) UPI P2M Throughput (₹ Cr) UPI P2M Count (Cr) 6.4x times 4.9x times 37.4 7,968 30.3 6,168 17.8 3,222 7.6 1,238 Q3'23 Q3'24 Q3'25 Q3'26 Q3'23 Q3'24 Q3'25 Q3'26 P2P P2M UPI P2P & P2M - Throughput 13% 13% 14% 9% Q3’23 Q3’24 Q3’25 Q3’26 91% ₹13,391 Cr 87% ₹25,352 Cr ₹46,831
Slide 36: UPI v/s Non-UPI Customer
UPI v/s Non-UPI Customer Avg. Transaction Count per Customer Monthly Average Balance (₹) Non - UPI 57.9 2,484 54.9 2,345 2,312 UPI 48.8 2,102 2,153 40.9 41.8 23x 3x 663 765 776 2.9 2.5 2.3 2.3 2.4 538 565 Q3'23 Q3'24 Q3'25 Q2'26 Q3'26 Q3'23 Q3'24 Q3'25 Q2'26 Q3'26 Throughput (₹ Cr) Avg. Ticket Size
Slide 37: CMS – Sector Diversification
CMS – Sector Diversification Throughput ₹ 17,756 Cr ₹ 21,927 Cr ₹ 18,850 Cr 17% 19% 26% 13% 15% 6% 4% 17% 5% 4% 5% 5% Q3’24 Q3’25 Q3’26 59% 57% 48% Throughput ₹ 49,127 Cr ₹ 63,964 Cr ₹ 57,619 Cr 16% 12% 21% 25% 12% 9% 15% 4% 4% 5% 5% 4% 9M’24 9M’25 9M’26 59% 58% 51% NBFC & MFI E-com (Logistic) CRA R
Slide 38: Transaction Business
Transaction Business Throughput (₹ Cr) Take Rate MATM AEPS DMT Revenue (₹ Cr) Q3’26 0.24%* 0.36% 0.86% 26,646 169.3 157.8 4,205 23,132 3,014 31.7 19.9 16,954 23.6 115.4 10,082 6,837 30.7 2,019 12,628 15.0 11,848 78.6 69.4 1,545 1,394 31.6 8,142 10.8 114.3 11.7 13,281 7,243 6,473 106.9 28.3 23.4 12,3
Slide 39: Key Business Partners
Key Business Partners #Towards Small Finance Bank 38
Slide 40: Thank You
Thank You Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1, 8th Floor, TTC Industrial Area, MIDC Shirwane, Juinagar, Navi Mumbai - 400 706 Email: investor_relations@fino.bank.in Tel: 022 - 7104 7000 Scan to locate