Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q3 FY2025 Earnings Presentation
41 slides from Fino Payments Bank's earnings presentation, Jan 29, 2025
Slide 1: Cover letter to stock exchanges
January 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 Q3'25
Investor Presentation Q3’25
Slide 3: Table of Content
Table of Content 1 2 3 4 Strategic Financial Digital Product Update Highlights Update Performance #HarDinFino… 2
Slide 4: Strategic Update
Strategic Update Scan to open bank account 3
Slide 5: Key Highlights – Q3'25
Key Highlights – Q3’25 Sustainable Business Model – 25% YoY revenue growth; as per the earlier guidance Expanding Ownership Business – customer base of 1.34 crores including 5+ lakh accounts opened digitally (~48 lakh digitally active customers) Building Liability Franchise – average deposits up by
Slide 6: Robust Business Model – Q3'25
Robust Business Model – Q3’25 (% Growth YoY) Digital Throughput Digital ₹ 59k Crs Advancement 54% Transaction Count Business 88.6 Crs Volume 56% Highest Ever Revenue Financial ₹ 461.3 Crs Strength 25% Merchant Count Strong 18.7 Lakhs Distribution 11% Profit Before Tax Building ₹ 28.5 Crs Value 25% R
Slide 7: Key Strengths
Key Strengths Seamless – Digital Strong customer (UPI) Platform 20th consecutive base of 1.34 Crs “FinoPay” Profitable (Android & iOS) Quarter ~48 lakh Digitally Strong Presence with Deposit led franchise active customers ~19 lakh banking with ₹ 1,858 Crs outlets covering 97% at 2.2% cost of funds p
Slide 8: Performance At a Glance
Performance At a Glance Q3’25 YoY 9M’25 YoY Revenue ₹ 461.3 Cr 25% ₹ 1,353.6 Cr 26% PBT ₹ 28.5 Cr 25% ₹ 78.6 Cr 29% Digital Throughput ₹ 59k Cr 54% ₹ 151k Cr 68% Throughput ₹ 118k Cr 26% ₹ 330k Cr 29% #HarDinFino… 7
Slide 9: 9M'25 > FY'24
9M’25 > FY’24 9M’25 FY’24 Z` Transaction Count 237.5 Cr 211.0 Cr CASA Revenue ₹ 311.8 Cr ₹ 306.8 Cr CASA Renewal Revenue ₹ 133.9 Cr ₹ 127.8 Cr Digital Payments Revenue ₹ 255.9 Cr ₹ 92.2 Cr Digital Throughput ₹ 150.6k Cr ₹ 132.6k Cr #HarDinFino… 8
Slide 10: Q3'25 Key Business Highlights (YoY)
Q3’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 461.3 Crs ₹ 60.2 Crs ₹ 28.5 Crs ₹ 49.5 Crs 24.6% 19.3% 24.9% 31.2% Digital Average Txn. Count Throughput Throughput Deposits 88.6 Crs ₹ 117.8k Crs ₹ 59.0k Crs ₹ 1,890 Crs 56.4% 26.3% 54.5% 39.2% #HarDinFino… 9
Slide 11: 9M'25 Key Business Highlights (YoY)
9M’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 1,353.6 Crs ₹ 170.5 Crs ₹ 78.6 Crs ₹ 136.3 Crs 25.7% 24.2% 28.9% 27.8% Digital Average Txn. Count Throughput Throughput Deposits 237.5 Crs ₹ 330.4k Crs ₹ 150.6k Crs ₹ 1,762 Crs 59.2% 29.2% 67.9% 36.6% #HarDinFino… 10
Slide 12: Delivering Long Term Sustainable Value
Delivering Long Term Sustainable Value ( ₹ Crs) Cash Profit Accretion Investment Reinvesting in Capex (₹ (Capex) in Technology Crs) 136.3 116.2 35% CAGR 26% CAGR 106.6 79.1 79.7 81.5 57.6 55.2 9M'22 9M'23 9M'24 9M'25 ₹ 9M'22 9M'23 9M'24 9M'25 EBITDA Earnings Per Share (₹) 46% CAGR 170.5 11.0 137.2 9
Slide 13: Investing in Technology
Investing in Technology Architecture & AI, ML & Risk & DIY Journey & Infrastructure Builder Tools Security Digitalization Implementation AI/ML based Initiation of AI User enablement on of Hollow-The- solution plans for based Risk various digital Core projects to automation and monitoring for
Slide 14: Geographical Presence
Geographical Presence (in 000’s) Jammu & Kashmir 4.3 Himachal Pradesh 6.3 Punjab 48.7 Meghalaya 2.2 Uttarakhand 10.9 Haryana 49.1 Sikkim 2.7 Assam 32.6 Merchants* Branches & Delhi 38.0 Uttar Pradesh 316.7 (‘000) CSPs Tripura 6.1 Merchant / Mix Count / Mix Rajasthan 128.2 Bihar 255.7 1,874 / 100% 122
Slide 15: Financial Update
Financial Update Scan to open bank account 14
Slide 16: Bank Level Profit & Loss
Bank Level Profit & Loss Particulars Q3’25 Q2’25 Q3’24 QoQ (%) YoY (%) 9M’25 9M’24 YoY (%) (₹ Crs) Revenue 461.3 455.4 370.2 1.3% 24.6% 1,353.6 1,077.1 25.7% Product Cost 313.3 312.4 248.0 0.3% 26.3% 927.1 726.5 27.6% Net Revenue 148.1 143.0 122.2 3.6% 21.2% 426.5 350.6 21.7% Net Revenue Margin % 32
Slide 17: Financial Highlights
Financial Highlights Revenue (₹ Crs) 19% CAGR 461.3 23% CAGR 1,353.6 370.2 1,077.1 906.5 314.1 723.6 275.2 Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'23 9M'24 9M'25 EBITDA (₹ Crs) 32% CAGR 60.2 46% CAGR 170.5 50.5 137.2 38.9 93.0 25.9 55.0 9.4% 12.4% 13.6% 13.0% 7.6% 10.3% 12.7% 12.6% Q3'22 Q3'23 Q3'24 Q3'25
Slide 18: Financial Highlights
Financial Highlights PBT (₹ Crs) 28.5 26% CAGR 46% CAGR 78.6 22.8 19.1 61.0 14.1 43.0 25.1 5.1% 6.1% 6.2% 6.2% 3.5% 4.7% 5.7% 5.8% Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'23 9M'24 9M'25 Cost to Income (%) (0.3%) (3.8%) 26.8% 26.2% 29.5% 26.0% 25.9% 26.9% 26.4% 25.7% 12.9% Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'2
Slide 19: Product Revenue Mix
Product Revenue Mix ( ₹ Crs) Q3’24 vs Q3’25 9M’24 vs 9M’25 461.3 1,353.6 3%, 15.0 7%, 31.6 4%, 48.4 370.2 7%, 32.0 7%, 88.4 1,077.1 7%, 97.2 5%, 19.9 9%, 40.7 6%, 23.6 7%, 70.4 9%, 120.9 9%, 32.0 11%, 51.9 8%, 83.9 10%, 149.7 10%, 36.9 9%, 95.9 15%, 68.8 10%, 106.1 11%, 40.9 10%, 112.1 21%, 281.3 31
Slide 20: Product Portfolio – Growth & Margins
Product Portfolio – Growth & Margins Q3’25 Revenue 9M’25 Revenue Q3’25 9M’25 Product Drivers (₹ Crs); (₹ Crs); Margins Margins YoY Growth YoY Growth Customer ownership; Path to 111.6 50% 311.8 50% CASA annuity 51% 44% High growth high margin 40.7 35% 120.9 36% CMS business 11% 14% Digital Payment 10
Slide 21: Overall PAT & ROE
Overall PAT & ROE Profit After Tax PBT for Q3’25 at (₹ Crs) 28.5 PBT 25.9 ₹ 28.5 Cr 22.1 22.8 25.2 24.3 23.1 PAT 21.1 24.9% growth over Q3’24 19.1 18.7 19.5 13.8 10.1 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 PAT for Q3’25 at ₹ 23.1 Cr Return on Equity 15.3% 16.0% ROE on PBT
Slide 22: Fino 2.0 Digital Update
Fino 2.0 Digital Update Scan to open bank account 21
Slide 23: Digital – Q3'25 – Snapshot
Digital – Q3’25 – Snapshot (YoY Growth) 23 Partners live ₹ 764 Average Ticket Size ( 13 new partners added) ( 13%) Contribution of 1.61% to Throughput ₹ 59K crs UPI Transaction Ecosystem ( 54%) in Dec’24 More than 17,800 ~48 lakh average digitally active Merchants with Fino QR customers ( 34%) #HarD
Slide 24: Digital – Building Momentum
Digital – Building Momentum Transaction Count (in Crs) Throughput (₹ ‘000 Crs) Revenue ( ₹ Crs) 76.6 3.2x Times 59.0 14x Times 109.7 2.7x Times 60. 0 75. 0 65.5 50. 0 47.4 65. 0 44.2 42.9 79.3 56.6 40. 0 38.2 55. 0 66.8 49.4 33.1 45.4 30. 0 45. 0 40.2 36.8 35. 0 20. 0 18.4 28.8 28.0 18.8 10. 0 25. 0
Slide 25: Fino UPI – Universe
Fino UPI – Universe Fino’s Contribution to 1.61% UPI Circle UPI Ecosystem 1.55% Static & Dynamic Auto Pay QR 1.45% 1.37% Credit card 1.24% 19 19 UPI Lite 1.22% on UPI 20 22 1.04% 23 Send & Collect Pay to UPI 24 money number UPI Beneficiary 25 Account Ranking* linking Jun'23 Sep'23 Dec'23 Mar'24 Jun'
Slide 26: Product Performance
Product Performance Scan to open bank account 25
Slide 27: Ownership Momentum Continues (Q3'25 - YoY)
Ownership Momentum Continues (Q3’25 - YoY) No. of CASA Accounts Average Deposits Accounts Opened per Day (in Lakhs) (₹ Crs) 48% CAGR 17% CAGR 49% CAGR 134.4 9,033 1,890 8,231 8,434 101.3 1,358 69.7 5,650 955 41.6 573 Q3'22 Q3'23 Q3'24 Q3'25 Q3'22 Q3'23 Q3'24 Q3'25 Q3'22 Q3'23 Q3'24 Q3'25 CASA accoun
Slide 28: Ownership Momentum Continues (9M'25 - YoY)
Ownership Momentum Continues (9M’25 - YoY) No. of CASA Accounts Average Deposits Accounts Opened per Day (in Lakhs) (₹ Crs) 48% CAGR 134.4 22% CAGR 8,949 51% CAGR 1,762 8,478 7,770 101.3 1,290 69.7 872 4,918 41.6 513 9M'22 9M'23 9M'24 9M'25 9M'22 9M'23 9M'24 9M'25 9M'22 9M'23 9M'24 9M'25 CASA accoun
Slide 29: Customer Stickiness (Q3'25 - YoY)
Customer Stickiness (Q3’25 - YoY) Renewal Revenue (₹ Crs) Customer Balance (₹) 82% CAGR 47.8 10% CAGR 1,219 1,076 1,097 31.4 917 18.7 7.9 Q3'22 Q3'23 Q3'24 Q3'25 Q3'22 Q3'23 Q3'24 Q3'25 Q3’23 Q3’24 8% 10% Q3’22 3% 6% Q3’25 97% ₹ 275.2 Crs ₹ 314.1 Crs ₹ 370.2 Crs ₹ 461.3 Crs 94% 92% 90% Total Revenue
Slide 30: Customer Stickiness (9M'25 - YoY)
Customer Stickiness (9M’25 - YoY) Renewal Revenue (₹ Crs) Customer Balance (₹) 100% CAGR 133.9 10% CAGR 1,219 1,097 1,076 87.9 917 47.6 16.8 9M'22 9M'23 9M'24 9M'25 9M'22 9M'23 9M'24 9M'25 8% 10% 9M’22 2% 9M’23 5% 9M’24 9M’25 98% ₹ 723.6 Crs ₹ 906.5 Crs ₹ 1,077.1 Crs ₹ 1,353.6 Crs 95% 92% 90% Total
Slide 31: Renewal Income - Trend
Renewal Income - Trend ( ₹ Crs) 17x times 47.8 45.7 39.9 40.4 31.4 30.3 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 #HarDinFino… 30
Slide 32: Average Deposits - Trend
Average Deposits - Trend ( ₹ Crs) 4x Times 1,890 1,699 1,696 1,540 1,358 1,243 1,267 1,103 955 851 810 689 573 475 489 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 #HarDinFino… 31
Slide 33: Customers – UPI P2M
Customers – UPI P2M UPI P2M Spends (₹ Crs) 161% CAGR 6,168 185% CAGR 17,831 3,222 7,699 1,238 2,949 348 771 Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'23 9M'24 9M'25 UPI P2M Transaction Count (Crs) 155% CAGR 171% CAGR 30.3 83.3 17.8 44.8 7.6 17.0 1.8 4.2 Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'23 9M'24 9M'25 More an
Slide 34: CMS – High Margin Product (Q3'25 - YoY)
CMS – High Margin Product (Q3’25 - YoY) CMS Clients Throughput (₹ Crs) Avg. Revenue per Txn (₹) 22% CAGR 231 53% CAGR 21,927 13% CAGR 162 200 17,756 138 135 172 13,869 127 92 6,074 Q3'22 Q3'23 Q3'24 Q3'25 Q3'22 Q3'23 Q3'24 Q3'25 Q3'22 Q3'23 Q3'24 Q3'25 Diversified clientele across BSFI, 27 Clients w
Slide 35: CMS – High Margin Product (9M'25 - YoY)
CMS – High Margin Product (9M’25 - YoY) CMS Clients Throughput (₹ Crs) Avg. Revenue per Txn (₹) 22% CAGR 231 59% CAGR 63,964 17% CAGR 155 147 200 49,127 172 121 127 34,538 91 16,021 9M'22 9M'23 9M'24 9M'25 9M'22 9M'23 9M'24 9M'25 9M'22 9M'23 9M'24 9M'25 Diversified clientele across BSFI, 30 Clients
Slide 36: CMS: Sector Diversification
CMS: Sector Diversification 18% 25% 19% 12% 15% 11% 4% 4% 4% 5% 4% 5% Q1’25 Q2’25 Q3’25 61% 56% 57% Throughput ₹ 20,219 Cr ₹ 21,818 Cr ₹ 21,927 Cr NBFC & MFI E-com (Logistic) CRA Retail & Others Banks Diversification to mitigate any head winds in particular sector #HarDinFino… 35
Slide 37: Remittance
Remittance Q3’25 Revenue (₹ Crs) 9M’25 Take Rate (%) 114.3 337.4 281.3 68.8 1.01 0.86 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 Throughput (₹ Crs) Average Ticket Size (₹) 13,281 39,027 3,126 30,334 6,793 2,868 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 Overall industry impact due to introduction of new regulatio
Slide 38: AEPS
AEPS Q3’25 Revenue (₹ Crs) 9M’25 Take Rate (%) 31.6 83.9 88.4 0.39 23.6 0.35 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 Throughput (₹ Crs) Average Ticket Size (₹) 8,142 25,501 2,574 23,061 2,473 6,837 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 Showing signs of reclaiming cash withdrawal business, UPI continues to
Slide 39: Micro-ATM
Micro-ATM Q3’25 Revenue (₹ Crs) 9M’25 Take Rate* (%) 19.9 70.4 15.0 48.4 0.35 0.31 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 Throughput (₹ Crs) Average Ticket Size (₹) 3,014 10,133 3,790 3,420 6,730 2,019 Q3'24 Q3'25 9M'24 9M'25 Q3'24 Q3'25 * Basis throughput Overall cash withdrawal business moving toward
Slide 40: Key Business Partners
Key Business Partners #HarDinFino… 39
Slide 41: 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@finobank.com Tel: 022-7104 7000 Thank You 40