Fino Payments Bank Ltd. · NSE:FINOPB

Fino Payments Bank — Q2 FY2025 Earnings Presentation

36 slides from Fino Payments Bank's earnings presentation, Oct 23, 2024

  1. Slide 1: Cover letter to stock exchanges

    October 23, 2024 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

  2. Slide 2: Investor Presentation Q2'25

    Classification: Confidential Investor Presentation Q2’25 Classification: Confidential

  3. Slide 3: Table of Content

    Classification: Confidential Table of Content 01 Strategic Update 02 Financial Highlights 03 Digital Update 04 Product Performance #HarDinFino… Classification: Confidential 2

  4. Slide 4: Strategic Update

    Classification: Confidential Strategic Update Scan to open bank account Classification: Confidential 3

  5. Slide 5: Key Highlights – Q2'25

    Classification: Confidential Key Highlights – Q2’25 Sustainable Business Model – 27% YoY revenue growth; 2% above the earlier guidance; Taxes applicable for the first time Expanding Ownership Business – customer base of ~1.3 crores including 4.3+ lakh accounts opened digitally (44+ lakh digitally ac

  6. Slide 6: Robust Business Model – Q2'25

    Classification: Confidential Robust Business Model – Q2’25 (% Growth YoY) UPI Throughput Digital ₹ 47k Crs Advancement +104% Transaction Count Business 78.4 Crs Volume +51% Highest Ever Revenue Financial ₹ 455.4 Crs Strength +27% Merchant Count Strong 18.5 Lakhs Distribution +22% Profit Before Tax B

  7. Slide 7: Three Phases of our Business – Q2'25 Update

    Classification: Confidential Three Phases of our Business – Q2’25 Update Phase 3: Monetization Phase 2: Acquisition  Fino 2.0+ : Simplified digital solutions for customer friendly experience   Technology ready for opportunities Phase 1: Transaction Customer Base at ~13 million  51%+ YoY growth i

  8. Slide 8: Performance At a Glance

    Classification: Confidential Performance At a Glance Q2’25 YoY H1’25 YoY Revenue ₹ 455.4 Cr 27% ₹ 892.3 Cr 26% PBT ₹ 25.9 Cr 33% ₹ 50.2 Cr 31% Digital Throughput ₹ 47k Cr 43% ₹ 92k Cr 78% Throughput ₹ 107k Cr 24% ₹ 213k Cr 31% #HarDinFino… Classification: Confidential 7

  9. Slide 9: Q2'25 Key Business Highlights (YoY)

    Classification: Confidential Q2’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 455.4 Crs ₹ 57.2 Crs ₹ 25.9 Crs ₹ 45.0 Crs 27.0% 23.6% 32.8% 25.7% Digital Average Txn. Count Throughput Throughput Deposits 78.4 Crs ₹ 106.9k Crs ₹ 47.4k Crs ₹ 1,696 Crs 50.8% 23.5% 43.1% 33.8% Capital

  10. Slide 10: H1'25 Key Business Highlights (YoY)

    Classification: Confidential H1’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 892.3 Crs ₹ 110.3 Crs ₹ 50.2 Crs ₹ 86.8 Crs 26.2% 27.2% 31.3% 26.0% Digital Average Txn. Count Throughput Throughput Deposits 148.8 Crs ₹ 212.6k Crs ₹ 91.6k Crs ₹ 1,698 Crs 60.8% 30.9% 77.9% 35.3% Capit

  11. Slide 11: Investing in Technology

    Classification: Confidential Investing in Technology Architecture & AI, ML & Risk & DIY Journey & Infrastructure Builder Tools Security Digitalization  Automation and  Robust  Scalable &  Implementation enablement of AI information sustainable API of Kubernetes to manage security tools based sys

  12. Slide 12: Geographical Presence

    Classification: Confidential Geographical Presence (in 000’s) Jammu & Kashmir 4.4 Himachal Pradesh 5.9 Punjab 48.3 Meghalaya 2.4 Uttarakhand 10.2 Haryana 48.2 Sikkim 2.9 Assam 33.6 Merchants* Branches & Delhi 37.4 Uttar Pradesh 313.9 (‘000) CSPs Tripura 6.3 Merchant / Mix Count / Mix Rajasthan 129.1

  13. Slide 13: Financial Highlights

    Classification: Confidential Financial Highlights Scan to open bank account Classification: Confidential 12

  14. Slide 14: Bank Level Profit & Loss

    Classification: Confidential Bank Level Profit & Loss Particulars Q2’25 Q1’25 Q2’24 QoQ (%) YoY (%) H1’25 H1’24 YoY (%) (₹ Crs) Revenue 455.4 436.9 358.6 4.2% 27.0% 892.3 706.9 26.2% Product Cost 312.4 301.5 240.2 3.6% 30.0% 613.9 478.5 28.3% Net Revenue 143.0 135.4 118.3 5.6% 20.8% 278.4 228.4 21.9

  15. Slide 15: Financial Highlights

    Classification: Confidential Financial Highlights Revenue (₹ Crs) 23% CAGR 455.4 892.3 26% CAGR 706.9 358.6 592.4 303.3 448.4 242.2 Q2'22 Q2'23 Q2'24 Q2'25 H1'22 H1'23 H1'24 H1'25 EBITDA (₹ Crs) 47% CAGR 57.2 56% CAGR 110.3 46.2 86.7 30.5 54.1 17.9 29.0 7.4% 10.1% 12.9% 12.6% 6.5% 9.1% 12.3% 12.4% Q

  16. Slide 16: Financial Highlights

    Classification: Confidential Financial Highlights PBT (₹ Crs) 49% CAGR 25.9 66% CAGR 50.2 19.5 38.2 13.8 23.9 7.9 11.0 3.3% 4.6% 5.4% 5.7% 2.5% 4.0% 5.4% 5.6% Q2'22 Q2'23 Q2'24 Q2'25 H1'22 H1'23 H1'24 H1'25 Cost to Income (%) 30.3% (4.6%) 31.5% (5.9%) 26.6% 26.9% 27.6% 25.6% 26.4% 25.7% 12.9% Q2'22

  17. Slide 17: Product Revenue Mix

    Classification: Confidential Product Revenue Mix ( ₹ Crs) Q2’24 vs Q2’25 H1’24 vs H1’25 892.3 455.4 12%, 51.2 12%, 97.8 358.6 706.9 17%, 79.3 16%, 146.2 10%, 37.4 10%, 71.3 5%, 18.8 4%, 26.5 7%, 65.1 7%, 33.1 9%, 31.7 9%, 63.8 22%, 100.0 24%, 212.5 30%, 107.0 32%, 223.1 6%, 27.6 6%, 56.9 8%, 28.2 4%

  18. Slide 18: Product Portfolio – Growth & Margins

    Classification: Confidential Product Portfolio – Growth & Margins Q2’25 Revenue H1’25 Revenue Q2’25 H1’25 Product Drivers (₹ Crs); (₹ Crs); Margins Margins YoY Growth YoY Growth Customer ownership; Path to 106.7 50% 200.2 50% CASA annuity 42% 41% High growth high margin 40.8 36% 80.2 36% CMS busines

  19. Slide 19: Overall PAT & ROE - Now Tax Paying

    Classification: Confidential Overall PAT & ROE - Now Tax Paying PBT for Q2’25 at Profit After Tax (₹ Crs) 25.9 ₹ 25.9 Cr 22.1 25.2 PBT 24.3 32.8% growth over Q2’24 22.8 21.1 19.1 18.7 19.5 13.8 10.1 PAT for Q2’25 at Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 ₹ 21.1 Cr Return on Equi

  20. Slide 20: Fino 2.0 Digital Update

    Classification: Confidential Fino 2.0 Digital Update Scan to open bank account Classification: Confidential 19

  21. Slide 21: Digital – Q2'25 – Snapshot

    Classification: Confidential Digital – Q2’25 – Snapshot (YoY Growth) 25 Partners live ₹ 719 Average Ticket Size ( 21 new partners added) ( 15%) Contribution of 1.55% to Throughput Rs. 47K crs UPI Transaction Ecosystem ( 43%) in Sep’24 More than 17,600 44+ lakh average digitally active Merchants with

  22. Slide 22: Digital – Building Momentum

    Classification: Confidential Digital – Building Momentum Transaction Count (in Crs) Throughput (₹ Crs) Revenue ( ₹ Crs) 52,0 00 ~2.6x Times 47,393 10x Times 79.3 2.3x Times 65.5 48,0 00 44,197 65. 0 44,0 00 42,915 38,187 66.8 56.6 40,0 00 55. 0 36,0 00 33,123 49.4 32,0 00 45.4 45. 0 28,0 00 40.2 24,

  23. Slide 23: Digital D2C

    Classification: Confidential Digital D2C Avg. Digitally Active Customers (in lakhs) 49. 0 1.5x Times 44.3 44. 0 41.6 Highlights: 39.2 39. 0 35.6  More than 60 services across payments, accounts, debit card, service requests, etc. 34. 0 32.2 30.2 29. 0  Rated consistent at 4.2 on Play Store with mo

  24. Slide 24: Fino UPI – Universe

    Classification: Confidential Fino UPI – Universe Fino’s Contribution to CC on UPI 1.55% UPI Ecosystem Scan & Pay 1.45% Static & Dynamic QR 1.37% Account + IFSC Transfer 1.24% 1.22% Features One VPA multiple A/C linking 19 of 20 UPI PIN set through Aadhar OTP Payments 1.04% 22 Transfer to UPI ID 23 2

  25. Slide 25: UPI Ecosystem – Tip of the ICEBERG

    Classification: Confidential UPI Ecosystem – Tip of the ICEBERG 8x Times 370 309 247 UPI 190 Transaction 131 volume 84 (in billion) 46 FY'22 FY'23 FY'24 FY'25 E FY'26 E FY'27 E FY'28 E  India’s digital journey has just started - anticipated to grow 8 times by FY28  Ease of adoption through simplif

  26. Slide 26: Product Performance

    Classification: Confidential Product Performance Scan to open bank account Classification: Confidential 25

  27. Slide 27: Ownership Momentum Continues (Q2'25 - YoY)

    Classification: Confidential Ownership Momentum Continues (Q2’25 - YoY) No. of CASA Accounts Average Deposits Accounts Opened per Day (in Lakhs) (₹ Crs) 51% CAGR 126.1 19% CAGR 8,918 51% CAGR 1,696 8,628 8,232 1,267 93.6 850 62.1 5,352 36.4 489 Q2'22 Q2'23 Q2'24 Q2'25 Q2'22 Q2'23 Q2'24 Q2'25 Q2'22 Q

  28. Slide 28: Ownership Momentum Continues (H1'25 - YoY)

    Classification: Confidential Ownership Momentum Continues (H1’25 - YoY) No. of CASA Accounts Average Deposits Accounts Opened per Day (in Lakhs) (₹ Crs) 51% CAGR 126.1 25% CAGR 8,906 52% CAGR 1,698 8,500 7,541 93.6 1,255 62.1 830 4,550 36.4 482 H1'22 H1'23 H1'24 H1'25 H1'22 H1'23 H1'24 H1'25 H1'22 H

  29. Slide 29: Customer Stickiness (Q2'25 - YoY)

    Classification: Confidential Customer Stickiness (Q2’25 - YoY) Renewal Income (₹ Crs) Customer Balance (₹) 95% CAGR 45.7 11% CAGR 1,140 1,074 1,020 30.3 829 15.5 6.2 Q2'22 Q2'23 Q2'24 Q2'25 Q2'22 Q2'23 Q2'24 Q2'25 UPI P2M Spends (₹ Crs) UPI P2M Spends Count (Crs) 170% CAGR 4,901 165% CAGR 26.1 2,188

  30. Slide 30: CMS – High Margin Product (Q2'25 - YoY)

    Classification: Confidential CMS – High Margin Product (Q2’25 - YoY) CMS Clients Throughput (₹ Crs) Avg. Revenue per Txn (₹) 25% CAGR 217 59% CAGR 21,818 22% CAGR 155 149 189 161 116 14,685 110 85 10,464 5,389 Q2'22 Q2'23 Q2'24 Q2'25 Q2'22 Q2'23 Q2'24 Q2'25 Q2'22 Q2'23 Q2'24 Q2'25 Diversified client

  31. Slide 31: CMS: Sector Diversification (Q2'25 - YoY)

    Classification: Confidential CMS: Sector Diversification (Q2’25 - YoY) 19% 18% 26% 15% 10% 11% 5% 2% 2% 6% 5% 5% Q2’23 Q2’24 Q2’25 65% 56% 55% Throughput ₹ 10,464 Cr ₹ 14,685 Cr ₹ 21,818 Cr NBFC & MFI E-com (Logistic) CRA Retail Banks Accelerated growth path helped by 9 states with average monthly t

  32. Slide 32: Remittance

    Classification: Confidential Remittance Q2’25 Revenue (₹ Crs) H1’25 Take Rate (%) 107.0 223.1 212.5 0.96 0.87 100.0 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 Throughput (₹ Crs) Average Ticket Size (₹) 25,746 12,302 23,542 3,002 10,453 2,720 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 One of the pioneers in the re

  33. Slide 33: AEPS

    Classification: Confidential AEPS Q2’25 Revenue (₹ Crs) H1’25 Take Rate (%) 28.2 27.6 60.3 56.9 0.33 0.35 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 Throughput (₹ Crs) Average Ticket Size (₹) 18,664 8,445 2,598 7,119 14,919 2,387 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 Decline in YoY revenue contributed by ove

  34. Slide 34: Micro-ATM

    Classification: Confidential Micro-ATM Q2’25 Revenue (₹ Crs) H1’25 Take Rate (%) 26.8 50.5 0.35 33.4 0.32 16.7 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 Throughput (₹ Crs) Average Ticket Size (₹) 3,179 7,118 3,495 3,347 4,711 2,118 Q2'24 Q2'25 H1'24 H1'25 Q2'24 Q2'25 Continue to be one of the dominant pla

  35. Slide 35: Key Business Partners

    Classification: Confidential Key Business Partners #HarDinFino… Classification: Confidential 34

  36. Slide 36: Thank You

    Classification: Confidential 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@finobank.com Tel: 022-7104 7000 Thank You Classification: Confidential 35

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