Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q4 FY2026 Earnings Presentation
38 slides from Fino Payments Bank's earnings presentation, Apr 29, 2026
Slide 1: Cover letter to BSE and NSE under Regulation 30
April 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 under
Slide 2: Investor Presentation Q4'26 & FY'26
Investor Presentation Q4’26 & FY’26
Slide 3: Table of Content
Table of Content 01 Key Highlights 02 Financial Highlights 03 SFB Update 04 Product Level Performance
Slide 4: Key Highlights
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Slide 5: Key Highlights of FY'26
Key Highlights of FY’26 Received In-principle Approval for Small Finance Bank from the RBI; First Payments Bank to achieve this distinction Successful Migration to Finacle Core Banking Platform; new CBS live from January’26 All-time High Deposit Levels – Average deposits for FY’26 increased by 30% Y
Slide 6: Performance At a Glance – Q4'26 (YoY)
Performance At a Glance – Q4’26 (YoY) Operational Highlights Financial Highlights Liability Franchise Digital Footprint Total Throughput Revenue CASA Accounts* Digital Throughput ₹ 107.8k Cr ₹ 340.0 Cr 1.75 Cr ₹ 65.3k Cr 17% 31% 22% 13% Transaction Net Revenue Average Digitally Active Count Margin D
Slide 7: Performance At a Glance – FY'26 (YoY)
Performance At a Glance – FY’26 (YoY) Operational Highlights Financial Highlights Liability Franchise Digital Footprint Total Throughput Revenue CASA Accounts* Digital Throughput ₹ 464.0k Cr ₹ 1,587.9 Cr 1.75 Cr ₹ 262.0k Cr 1% 14% 22% 16% Transaction Net Revenue Average Digitally Active Count Margin
Slide 8: Cash Profit & PBT Trend
Cash Profit & PBT Trend (₹ Cr) Cash Profit PBT 191.2 182.6 149.6 118.1 85.4 108.3 86.3 65.1 67.4 42.7 FY'22 FY'23 FY'24 FY'25 FY'26 Capex 64.4 94.5 103.8 164.5 142.7 Networth* 479.8 552.5 643.2 746.9 805.2 PBT softened, though cash generation remained robust *As per Companies Act #Towards Small Fina
Slide 9: Operational Efficiency
Operational Efficiency Daily Average Throughput (₹ Cr) 2.5x times 1,263 1,271 979 699 513 No. of Employees 2,893 2,903 FY'22 FY'23 FY'24 FY'25 FY'26 Throughput per Employee 64.7 2.5x times 159.9 (₹ Cr) Daily average throughput increases 2.5x with a stable employee base #Towards Small Finance Bank… 8
Slide 10: 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 11: Geographical Presence
Geographical Presence (in 000’s) Jammu & Kashmir 4.3 Himachal Pradesh 6.3 Punjab 51.7 Meghalaya 2.1 Uttarakhand 12.0 Haryana 55.3 Sikkim 2.5 Assam 39.5 Merchants* Branches & Delhi 40.5 Uttar Pradesh 356.4 (‘000) CSPs Tripura 6.3 Merchant / Mix Count / Mix Rajasthan 139.5 Bihar 280.9 2,084 / 100% 126
Slide 12: Financial Highlights
Financial Highlights
Slide 13: Bank Level Profit & Loss
Bank Level Profit & Loss Particulars (₹ Cr) Q4’25 Q3’26 Q4’26 QoQ (%) YoY (%) FY’25 FY’26 YoY (%) Revenue 493.5 394.4 340.0 (14%) (31%) 1,847.1 1,587.9 (14%) Product Cost 338.1 246.5 204.0 17% 40% 1,265.3 1,003.5 21% Net Revenue 155.4 147.9 136.0 (8%) (12%) 581.8 584.4 0% Net Revenue Margin % 31.5%
Slide 14: Financial Highlights - Quarterly
Financial Highlights - Quarterly Revenue (₹ Cr) EBITDA (₹ Cr) 493.5 63.9 63.9 401.3 394.4 54.2 56.0 323.4 340.0 43.0 13.3% 13.5% 13.0% 16.2% 16.5% Q4'23 Q4'24 Q4'25 Q3'26 Q4'26 Q4'23 Q4'24 Q4'25 Q3'26 Q4'26 PBT (₹ Cr) Cost-to-Income (%) 29.7 38.8% 25.3 22.1 33.1% 17.5 25.9% 25.6% 25.5% 4.1 6.8% 6.3%
Slide 15: Financial Highlights - Yearly
Financial Highlights - Yearly Revenue (₹ Cr) EBITDA (₹ Cr) 1,847.1 1,587.9 234.4 243.2 1,478.4 1,229.9 191.4 136.1 11.1% 12.9% 12.7% 15.3% FY'23 FY'24 FY'25 FY'26 FY'23 FY'24 FY'25 FY'26 PBT (₹ Cr) Cost-to-Income (%) 108.3 32.6% 26.3% 26.5% 25.6% 86.3 65.1 67.4 5.3% 5.8% 5.9% 4.2% FY'23 FY'24 FY'25
Slide 16: Product Revenue Mix
Product Revenue Mix Quarterly Yearly ( ₹ Cr) 493.5 1,847.1 6%, 27.0 6%, 98.4 7%, 33.9 7%, 131.1 1,587.9 7%, 35.4 394.4 8%, 156.3 9%, 137.6 9%, 35.1 340.0 9%, 142.2 22%, 107.8 9%, 34.8 11%, 36.6 7%, 115.5 7%, 29.6 28%, 525.9 11%, 36.9 18%, 290.0 18%, 69.4 6%, 20.6 27%, 134.4 15%, 51.9 16%, 62.7 21%,
Slide 17: Product Portfolio – Growth & Margins
Product Portfolio – Growth & Margins Q4’26 Revenue FY’26 Revenue Q4’26 Revenue FY’26 Revenue Product (₹ Cr); (₹ Cr); Margins Mix Margins Mix YoY Growth YoY Growth 153.5 629.7 CASA* 56% 45% 54% 40% (1%) 16% Digital Payment 40.5 272.9 20% 12% 20% 17% Services (70%) (30%) 20.6 115.5 CMS 33% 6% 33% 7% (
Slide 18: SFB Update
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Slide 19: Liability First Approach
Liability First Approach Particulars FY’23 FY’26 FY’30 (Aim) Total Deposits (₹ Cr) 1,255 2.5x 2,815 13,300 No. of Accounts (Cr) 0.78 2.2x 1.75 3.19 Active Accounts (Cr) 0.39 2.9x 1.15 2.00 Cost of Deposits (%) 2.0% 1.7% 3.9% Continue to acquire Higher ticket size savings account- Offer FD / RD produ
Slide 20: Asset Strategy
Asset Strategy Affordable Strategic Advantages Housing 90% Secured Portfolio Secured Personal Loan Business Loans (MSME) Asset-Light Operations Merchants acting as service centers - No heavy branch infrastructure required Lending Lower CAC & Better Products LAP / Micro Collections Gold Loan LAP Deep
Slide 21: Right To Win – Differentiated SFB
Right To Win – Differentiated SFB Base 1.75 crore customers - 70% active; 20.8 lakh merchants – Covering 98% of India’s pin codes and 25% active Of the top percentile total base, ~22 lakh customers & Potential merchants are availing credit facility. Our referral business surge in FY’26 validates the
Slide 22: Implementation Update
Implementation Update Other People Technology Product Net-worth Timeline Conditions Resource Key systems Secured product Current net-worth Alignment with Aiming to go live augmentation in LOS, LMS rollout in a is 2x of regulatory the holding in a phased progress – identified and phased manner requir
Slide 23: 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 Completed Medium-Term Financial Targets 20%+ < 1% < 4% Return on Equity (ROE) Credit C
Slide 24: Product Level Performance
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Slide 25: Customer Acquisition to Ownership
Customer Acquisition to Ownership Q4’25 Q3’26 Q4’26 FY’25 FY’26 Expanding CASA base through New CASA Accounts Opened 8.6 8.7 6.9 33.3 31.5 ecosystem-led engagement (in lakh) Rural 5.7 5.3 4.6 22.5 20.1 Semi-Urban 1.6 1.8 1.3 6.2 6.2 Urban 1.3 1.5 1.0 4.6 5.2 Neighbourhood Digital Banking Onboarding
Slide 26: Renewal Income Trend
Renewal Income Trend (₹ Cr) 22x times 62.1 62.2 55.7 55.9 57.0 47.8 45.7 39.9 40.4 30.3 31.4 25.5 26.2 18.7 15.5 13.4 10.6 7.9 6.2 2.8 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Achieving highest-ever quarterly renewal inco
Slide 27: Average Deposits & Cost of Deposits - Trend
Average Deposits & Cost of Deposits - Trend 5x times 2,496 2,535 Average Deposits (₹ Cr) 2,306 2,275 2,116 Cost of Deposits (%) 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%
Slide 28: D2C Customer – UPI (Q4 - YoY)
D2C Customer – UPI (Q4 - YoY) UPI P2M Throughput (₹ Cr) UPI P2M Count (Cr) 10x times 6x times 11,244 41.4 37.4 7,968 33.9 6,822 21.9 4,846 7.3 1,146 Q4'23 Q4'24 Q4'25 Q3'26 Q4'26 Q4'23 Q4'24 Q4'25 Q3'26 Q4'26 P2P P2M UPI P2P & P2M - Throughput 15% 19% 13% 14% Q4’23 7% Q4’24 Q4’25 Q3’26 Q4’26 93% ₹15
Slide 29: D2C Customer – UPI (FY - YoY)
D2C Customer – UPI (FY - YoY) UPI P2M Throughput (₹ Cr) UPI P2M Count (Cr) 8x times 6x times 34,255 155.1 24,653 117.2 12,545 66.7 4,095 24.2 FY'23 FY'24 FY'25 FY'26 FY'23 FY'24 FY'25 FY'26 P2P P2M UPI P2P & P2M - Throughput 13% 14% 15% 9% FY’23 FY’24 FY’25 FY’26 91% ₹47,964 Cr ₹95,300 Cr ₹1,73,828
Slide 30: Referral Business – Foundation for the Next Phase
Referral Business – Foundation for the Next Phase Amount of Loans Disbursed (₹ Cr) 15x times 5x times 592 1,285 301 202 368 197 197 261 165 96 39 31 FY'23 FY'24 FY'25 FY'26 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Customers 12,875 23,803 Partner Institutions Highest referral loan disbursals i
Slide 31: Digital Payments – Fino Ecosystem
Digital Payments – Fino Ecosystem Q4’25 Q3’26 Q4’26 FY’25 FY’26 Digital Throughput (in ₹ Cr) 74,900 66,097 65,269 2,25,482 2,62,009 YoY (%) 75% 12% (13%) 70% 16% Digital Transaction Count 89.1 89.4 88.7 287.8 352.2 (in Cr) 80% 17% - 77% 22% YoY (%) UPI Transactions 5,140 6,280 6,474 18,587 24,162 Ec
Slide 32: Growing Soundbox Adoption
Growing Soundbox Adoption No. of Merchants 2,951 2,553 2,195 1,979 1,439 740 170 Sep'25 Oct'25 Nov'25 Dec'25 Jan'26 Feb'26 Mar'26 Monthly Throughput (₹ Cr) Real-Time Settlements 3.55 2.81 2.86 Payment Acceptance Through Multiple Modes 2.24 2.01 Doorstep Installation 1.09 0.22 Voice Alerts for Every
Slide 33: Digital Momentum
Digital Momentum Transaction Count (in Cr) Digital Throughput (₹ Cr) Revenue (₹ Cr) 57% CAGR 61% CAGR 13x times Q4 5.0 13.6 4.4 12,473 134.4 4,381 3,656 2.1 3,542 84.4 84.3 62.7 75.6 62,427 61,716 61,613 36.8 40.5 47.3 39,373 22.9 15,619 3.1 Q4'23 Q4'24 Q4'25 Q3'26 Q4'26 Q4'23 Q4'24 Q4'25 Q3'26 Q4'2
Slide 34: Digital & Non-Digital – Throughput Trend
Digital & Non-Digital – Throughput Trend Non-Digital Digital Revenue Generating Total Throughput ₹ 53,267 Cr ₹ 1,02,796 Cr ₹ 1,07,798 Cr 42% 61% 14% Q4 Q4’22 86% Q4’24 69% Q4’26 46% 86% 58% 39% Total Throughput ₹ 1,87,311 Cr ₹ 3,58,494 Cr ₹ 4,64,047 Cr 37% 56% 10% FY FY’22 90% FY’24 73% FY’26 52% 90
Slide 35: CMS – Sector Diversification
CMS – Sector Diversification Throughput ₹ 18,412 Cr ₹ 19,486 Cr ₹ 14,302 Cr 13% 14% 31% 15% 15% 4% 4% 5% Q4 4% 5% 15% 3% Q4’24 Q4’25 Q4’26 64% 62% 46% Throughput ₹ 67,539 Cr ₹ 83,451 Cr ₹ 71,921 Cr 15% 13% 20% 26% 13% 8% 3% 15% 5% 4% 5% 4% FY FY’24 FY’25 FY’26 60% 59% 50% NBFC & MFI E-com (Logistic)
Slide 36: Transaction Business
Transaction Business Throughput (₹ Cr) Take Rate MATM AEPS DMT Revenue (₹ Cr) Q4’26 0.22%* 0.36% 0.85% 25,482 23,939 161.3 3,850 158.9 2,899 28.6 15.6 15,597 25.6 107.8 9,609 7,372 29.5 1,786 11,848 16.3 1,394 8,141 69.4 8,127 31.5 51.9 1,044 117.7 11.7 12,023 13,668 6,473 103.2 23.4 13.2 4,374 60.0
Slide 37: Key Business Partners
Key Business Partners #Towards Small Finance Bank… 36
Slide 38: Thank You
Thank You Scan to locate 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