Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q2 & H1 FY26 Earnings Presentation
42 slides from Fino Payments Bank's earnings presentation, Oct 29, 2025
Slide 1: Regulation 30 cover letter to stock exchanges
October 29, 2025 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: Investor Presentation Q2 & H1 FY'26
Classification: Internal Investor Presentation Q2 & H1 FY’26 Classification: Internal
Slide 3: Table of content
Classification: Internal Table of content 01 Strategic Update 02 Financial Highlights 03 Fino 2.0 – Digital Update 04 Product Level Performance Classification: Internal
Slide 4: Strategic Update
Classification: Internal Strategic Update Classification: Internal
Slide 5: Key Highlights – Q2'26
Classification: Internal Key Highlights – Q2’26 Expanding Ownership Business – Customer base of 1.6 crores, over 9.1 lakh accounts opened – Highest-ever for a quarter Building Liability Franchise – Average deposits up by 36% YoY ₹ 2,306 crores at 1.9% cost of funds Customer Trust Enhancing – 36% YoY
Slide 6: Business Performance Outlook
Classification: Internal Business Performance Outlook ▪ Customer Ownership – Quality of customer improving leading to an increase of 36% YoY in average deposits through targeted marketing efforts and expanding reach. ▪ Digital Payment Services – Risk calibrated approach to continue during FY26, enha
Slide 7: Robust Business Model – Q2'26
Classification: Internal Robust Business Model – Q2’26 (% Growth YoY) Digital Throughput Digital ₹ 62.8k Crs Advancement 32% Transaction Count Business 97.6 Crs Volume 25% Revenue Financial ₹ 400.1 Crs Strength 12% Merchant Count Strong 20.0 Lakhs Distribution 8% Profit Before Tax Building ₹ 21.2 Cr
Slide 8: Key Strengths
Classification: Internal Key Strengths Strong customer Seamless – Digital 23rd base of 1.6 Crs (UPI) platform consecutive serving ~1% of “FinoPay” Profitable India’s population (Android & iOS) Quarter Strong presence 57 lakh+ digitally Deposit led with 20 lakh banking active customers franchise with
Slide 9: Q2'26 Key Business Highlights (QoQ)
Classification: Internal Q2’26 Key Business Highlights (QoQ) Revenue EBITDA PBT Cash Profit ₹ 400.1 Crs ₹ 61.6 Crs ₹ 21.2 Crs ₹ 46.8 Crs (12% ) 0% (14%) (7%) Digital Average Txn. Count Throughput Throughput Deposits 97.6 Crs ₹ 114.6k Crs ₹ 62.8k Crs ₹ 2,306 Crs 0% (7%) (8%) 1% Capital Adequacy Ratio
Slide 10: Q2'26 Key Business Highlights (YoY)
Classification: Internal Q2’26 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 400.1 Crs ₹ 61.6 Crs ₹ 21.2 Crs ₹ 46.8 Crs (12% ) 8% (18%) 4% Digital Average Txn. Count Throughput Throughput Deposits 97.6 Crs ₹ 114.6k Crs ₹ 62.8k Crs ₹ 2,306 Crs 25% 7% 32% 36% Capital Adequacy Ratio 77
Slide 11: H1'26 Key Business Highlights (YoY)
Classification: Internal H1’26 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 853.5 Crs ₹ 123.3 Crs ₹ 45.9 Crs ₹ 97.3 Crs (4%) 12% (9%) 12% Digital Average Txn. Count Throughput Throughput Deposits 195.5 Crs ₹ 238.1k Crs ₹ 130.6k Crs ₹ 2,291 Crs 31% 12% 43% 35% Capital Adequacy Ratio
Slide 12: Delivering Long Term Sustainable Value (HoH)
Classification: Internal Delivering Long Term Sustainable Value (HoH) Cash Profit Accretion (₹ Crs) Reinvesting in Technology (Capex) (₹ Crs) 191.2 164.5 149.6 103.8 118.1 94.5 97.3 64.4 69.7 85.4 FY'22 FY'23 FY'24 FY'25 H1'26 FY'22 FY'23 FY'24 FY'25 H1'26 ₹ Net-worth (₹ Crs)* Earning Per Share (₹)^
Slide 13: Daily Average Throughput - Trend
Classification: Internal Daily Average Throughput - Trend Daily Average Throughput (₹ Crs) 2.5x times 1,301 1,263 12% 979 YoY Growth 699 513 Headcount 2,893 2,850 FY'22 FY'23 FY'24 FY'25 H1 FY'26 Higher Productivity - Daily throughput has grown ~2.5 times Classification: Internal #HarDinFino... 12
Slide 14: Geographical Presence
Classification: Internal Geographical Presence (in 000’s) Jammu & Kashmir 4.5 Himachal Pradesh 6.5 Punjab 51.1 Meghalaya 2.2 Uttarakhand 11.6 Haryana 53.0 Sikkim 2.8 Assam 35.5 Merchants* Branches & Delhi 39.4 Uttar Pradesh 337.4 (‘000) CSPs Tripura 6.4 Merchant / Mix Count / Mix Rajasthan 135.2 Bih
Slide 15: Financial Highlights
Classification: Internal Financial Highlights Classification: Internal
Slide 16: Bank Level Profit & Loss
Classification: Internal Bank Level Profit & Loss Particulars (₹ Crs) Q2’26 Q1’26 Q2’25 QoQ (%) YoY (%) H1’26 H1’25 YoY (%) Revenue 400.1 453.5 455.4 (12%) (12%) 853.5 892.3 (4%) Product Cost 251.4 301.6 312.4 (17%) (20%) 553.0 613.9 (10%) Net Revenue 148.6 151.9 143.0 (2%) 4% 300.5 278.4 8% Net Rev
Slide 17: Financial Highlights
Classification: Internal Financial Highlights Revenue (₹ Crs) 10% CAGR 13% CAGR 455.4 453.5 954.8 400.1 892.3 853.5 358.6 706.9 303.3 592.4 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 H1'23 H1'24 H1'25 H2'25 H1'26 EBITDA (₹ Crs) 26% CAGR 32% CAGR 61.6 61.6 124.1 57.2 123.3 110.3 46.2 86.7 30.5 54.1 10.1% 12.9% 12
Slide 18: Financial Highlights
Classification: Internal Financial Highlights PBT (₹ Crs) 15% CAGR 24% CAGR 58.2 25.9 24.6 50.2 21.2 45.9 19.5 38.2 13.8 23.9 4.6% 5.4% 5.7% 5.4% 5.3% 4.0% 5.4% 5.6% 6.1% 5.4% Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 H1'23 H1'24 H1'25 H2'25 H1'26 Cost to Income (%) (546 bps) 31.8% (325 bps) 29.8% 26.6% 26.9% 2
Slide 19: PAT & ROE
Classification: Internal PAT & ROE Profit After Tax (₹ Crs) PAT 29.7 PBT 28.5 25.9 24.6 21.2 25.2 24.3 24.0 22.8 21.1 23.1 19.5 17.8 15.4 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 * Q3'25 Q4'25 Q1'26 Q2'26 Return on Equity (%) 15.3% 16.0% 16.0% 16.4% 12.8% 15.4% 14.8% 10.7% ROE 13.7% 13.2% 13.1% on 12.5% PBT 9.
Slide 20: Business Trajectory
Classification: Internal Business Trajectory (₹ Crs) Growth Q2’26 | (Q2’25) Q2’26 Growth H1’26 | (H1’25) Business Revenue Q2'26 Q2'25 H1'26 H1'25 (YoY) Revenue Mix (%) NR Margin (YoY) Revenue Mix (%) Growing Business * (CASA & Digital 222.9 211.5 5% 56% | (46%) 44% 483.1 397.0 22% 57% | (44%) Paymen
Slide 21: Product Revenue Mix
Classification: Internal Product Revenue Mix YoY (₹ Crs) 455.4 892.3 853.5 7%, 33.1 400.1 7%, 65.1 8%, 70.5 9%, 40.8 9%, 80.2 9%, 34.7 8%, 65.3 6%, 25.7 6%, 47.2 8%, 30.9 7%, 65.9 7%, 33.0 34%, 302.7 20%, 168.7 32%, 144.3 20%, 78.6 20%, 169.8 16%, 63.4 17%, 79.3 16%, 146.2 40%, 159.4 37%, 313.4 29%,
Slide 22: Product Portfolio – Growth & Margins
Classification: Internal Product Portfolio – Growth & Margins Q2’26 Revenue H1’26 Revenue Q2’26 H1’26 Product Drivers (₹ Crs); (₹ Crs); Margins Margins YoY Growth YoY Growth Growing Business Customer ownership; Path to 159.4 313.4 CASA* 54% 53% annuity 21% 25% Digital Payment UPI payments stack 63.4
Slide 23: Fino 2.0 Digital Update
Classification: Internal Fino 2.0 Digital Update Classification: Internal
Slide 24: Digital Payments – Fino Ecosystem
Classification: Internal Digital Payments – Fino Ecosystem Q2’25 Q1’26 Q2’26 Digital Throughput (in ₹ Cr) 47,393 67,872 62,771 YoY (%) 43% 54% 32% Digital Transaction Count (in Cr) 65.5 87.0 87.1 YoY (%) 63% 54% 33% UPI Transactions Ecosystem (in Cr) 44,440 54,966 59,110 Fino’s Contribution (%) 1.55
Slide 25: Digital Momentum
Classification: Internal Digital Momentum Transaction Count (in Crs) Digital Throughput (₹ Crs) Revenue (₹ Crs) Q 45x times 78% CAGR 87.0 87.1 82% CAGR 106.3 67,872 62,771 65.5 79.3 47,393 63.4 40.2 33,123 15.5 10,468 18.8 1.4 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q
Slide 26: Digital Throughput Composition
Classification: Internal Digital Throughput Composition B2B D2C Digital Throughput (₹ ‘000 Crs) 62.4 56.6 47.4 56.8 36.4 39.3 34.8 39.4 29.6 7.8 8.1 11.6 12.5 11.3 3.5 3.4 3.5 5.9 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Digital Throughput Mix (%) 89% 82% 83% 80% 83% 83% 91% 92% 91% 11%
Slide 27: Digital & Non-Digital – Throughput Trend
Classification: Internal Digital & Non-Digital – Throughput Trend Non Digital Digital Revenue Generating Total Throughput ₹ 43,386 Cr ₹ 86,568 Cr ₹ 114,574 Cr 38% 55% 8% Q2 Q2’22 92% Q2’24 77% Q2’26 54% 92% 62% 45% Total Throughput ₹ 84,875 Cr ₹ 162,374 Cr ₹ 238,116 Cr 55% 32% 7% H1 H1’22 93% H1’24
Slide 28: Product Level Performance
Classification: Internal Product Level Performance Classification: Internal
Slide 29: Customer Acquisition to Ownership
Classification: Internal Customer Acquisition to Ownership Q2’25 Q1’26 Q2’26 Expanding CASA base through ecosystem-led engagement CASA Accounts Opened (in lakh) 8.2 6.8 9.1 Rural 5.1 4.2 5.6 Semi-Urban 1.6 1.4 1.8 Neighbourhood Digital Urban 1.5 1.2 1.7 Banking Onboarding Average Deposits (₹ Cr) 1,6
Slide 30: Ownership Momentum Continues
Classification: Internal Ownership Momentum Continues No. of CASA Accounts (in Lakhs) Accounts Opened per day Average Deposits (₹ Crs) Q 37% CAGR 159.0 6% CAGR 9,893 39% CAGR 149.9 2,306 2,275 126.1 8,628 8,918 8,232 1,696 93.6 7,514 1,267 62.1 851 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'
Slide 31: Customer Stickiness (Q2 - YoY)
Classification: Internal Customer Stickiness (Q2 - YoY) Renewal Income (₹ Crs) Customer Avg. Balance (₹) 59% CAGR 62.1 9% CAGR 55.9 1,317 1,264 45.7 1,131 30.3 1,051 15.5 969 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Total Revenue Renewal Revenue 12% 16% 8% 10% Q2’23 5% Q2’24 Q2’25
Slide 32: Customer Stickiness (H1 - YoY)
Classification: Internal Customer Stickiness (H1 - YoY) Renewal Income (₹ Crs) Customer Avg. Balance (₹) 60% CAGR 117.9 10% CAGR 103.5 1,253 86.1 1,208 1,129 56.5 1,031 28.9 934 H1'23 H1'24 H1'25 H2'25 H1'26 H1'23 H1'24 H1'25 H2'25 H1'26 Total Revenue Renewal Revenue 11% 14% 8% 10% H1’23 5% H1’24 H1
Slide 33: Renewal Income - Trend
Classification: Internal Renewal Income - Trend (₹ Crs) 22x times 62.1 55.9 55.7 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 Quarter on Quarter growth in Renewal In
Slide 34: Average Deposits & Cost of Funds - Trend
Classification: Internal Average Deposits & Cost of Funds - Trend (₹ Crs) 5x times 2,306 2,275 2,116 1,890 1,699 1,696 1,540 1,358 1,243 1,267 1,103 Edge 955 over 810 851 689 Competition 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% 1.6% 1.7% Average Deposits
Slide 35: UPI v/s Non-UPI Customer
Classification: Internal UPI v/s Non-UPI Customer Avg. Transaction Count per Customer Monthly Average Balance (₹) Non - UPI 47.0 48.8 2,472 2,312 UPI 41.4 2,051 2,059 2,135 31.0 21x 3x 21.9 746 765 2.8 2.5 537 557 620 2.3 2.3 2.3 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Throughput
Slide 36: D2C Customer – UPI (Q2 - YoY)
Classification: Internal D2C Customer – UPI (Q2 - YoY) UPI P2M Throughput (₹ Crs) UPI P2M Count (Crs) 8x times 7,388 7,655 7x times 39.6 36.7 5,976 27.7 14.7 2,412 925 5.7 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 P2P P2M UPI P2P & P2M - Throughput 12% 15% 14% 14% 10% Q2’23 Q2’24 Q
Slide 37: D2C Customer – UPI (H1 - YoY)
Classification: Internal D2C Customer – UPI (H1 - YoY) UPI P2M Throughput (₹ Crs) UPI P2M Count (Crs) 9x times 15,044 8x times 12,990 76.3 11,663 64.3 52.9 4,477 27.0 1,703 9.4 H1'23 H1'24 H1'25 H2'25 H1'26 H1'23 H1'24 H1'25 H2'25 H1'26 P2P P2M UPI P2P & P2M - Throughput 12% 16% 13% 14% 9% H1’23 H1’
Slide 38: CMS – High Margin Product (YoY)
Classification: Internal CMS – High Margin Product (YoY) CMS Clients Throughput (₹ Crs) 13% CAGR 234 18% CAGR 232 217 21,818 189 20,427 18,342 161 15,168 Q 11,071 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 Q2'23 Q2'24 Q2'25 Q1'26 Q2'26 13% CAGR 23% CAGR 230 234 42,037 41,413 217 38,768 189 31,371 161 H 20,669 H1
Slide 39: CMS – Sector Diversification
Classification: Internal CMS – Sector Diversification Throughput ₹ 15,168 Cr ₹ 21,818 Cr ₹ 18,342 Cr 14% 10% 25% 21% 11% 16% 8% 4% 4% 5% 4% 5% Q2 Q2’24 Q2’25 Q2’26 63% 55% 54% Throughput ₹ 31,371 Cr ₹ 42,037 Cr ₹ 38,768 Cr 11% 22% 25% 15% 12% 10% 14% 4% 4% 6% 5% 4% H1 H1’24 H1’25 H1’26 58% 58% 52% N
Slide 40: Transaction Business
Classification: Internal Transaction Business Throughput (₹ Crs) Take Rate MATM AEPS DMT Revenue (₹ Crs) Q2’26 0.23%* 0.39% 1.03% 27,160 23,926 169.1 4,329 162.0 3,179 19,690 144.3 31.2 26.8 2,118 16.7 10,732 8,445 14,222 33.0 28.2 12,628 27.6 90.1 7,119 1,785 78.6 1,545 13.1 10.8 7,918 7,243 30.1 1
Slide 41: Key Business Partners
Classification: Internal Key Business Partners Classification: Internal #HarDinFino... 40
Slide 42: Thank You
Classification: Internal Scan to locate 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@finobank.com Tel: 022 – 7104 7000 Classification: Internal
Fino Payments Bank — Q2 & H1 FY26 Earnings Presentation on 6ix