Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q1 FY2026 Earnings Presentation
39 slides from Fino Payments Bank's earnings presentation, Jul 30, 2025
Slide 1: Regulation 30 cover letter to stock exchanges
July 30, 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 under
Slide 2: Investor Presentation Q1 FY'26
Investor Presentation Q1 FY’26
Slide 3: Table of Contents
Table of Contents 01 Strategic Update 02 Financial Highlights 03 Fino 2.0 – Digital Update 04 Product Level Performance
Slide 4: Strategic Update
Strategic Update
Slide 5: Key Highlights – Q1'26
Key Highlights – Q1’26 Expanding Ownership Business – Customer base of 1.5 crores, 6.8 lakh accounts opened (53 lakh+ digitally active in Jun’25) Building Liability Franchise – Average deposits up by 34% YoY ₹ 2,275 crores, 2 times better growth than industry Customer Trust Enhancing – 38% YoY growt
Slide 6: Business Performance Outlook
Business Performance Outlook ▪ Customer Ownership – Quality of customer improving, industry at large impacted by mule account. New product and service offerings to enhance customer stickiness ▪ Digital Payment Services – Risk calibrated approach to continue during FY26, enhanced focus on quality of
Slide 7: Robust Business Model – Q1'26
Robust Business Model – Q1’26 (% Growth YoY) Digital Throughput Digital ₹ 67.9k Crs Advancement 54% Transaction Count Business 97.9 Crs Volume 39% Revenue Financial ₹ 453.5 Crs Strength 4% Merchant Count Strong 19.5 Lakhs Distribution 8% Profit Before Tax Building ₹ 24.6 Crs Value 1% CASA Renewal In
Slide 8: Key Strengths
Key Strengths Strong customer Seamless – Digital base of 1.5 Crs (UPI) platform serving 1% of “FinoPay” 22nd consecutive India’s population (Android & iOS) Profitable Quarter 53 lakh+ digitally Strong presence with Deposit led franchise active customers 19.5 lakh banking with ₹ 2,275 Crs in Jun’25 o
Slide 9: Q1'26 Key Business Highlights (YoY)
Q1’26 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 453.5 Crs ₹ 61.6 Crs ₹ 24.6 Crs ₹ 50.5 Crs 4% 16% 1% 21% Digital Average Txn. Count Throughput Throughput Deposits 97.9 Crs ₹ 123.5k Crs ₹ 67.9k Crs ₹ 2,275 Crs 39% 17% 54% 34% Capital Adequacy Ratio* 75.8% *Includes quarterly prof
Slide 10: Q1'26 Key Business Highlights (QoQ)
Q1’26 Key Business Highlights (QoQ) Revenue EBITDA PBT Cash Profit ₹ 453.5 Crs ₹ 61.6 Crs ₹ 24.6 Crs ₹ 50.5 Crs (8%) (4%) (17%) (8%) Digital Average Txn. Count Throughput Throughput Deposits 97.9 Crs ₹ 123.5k Crs ₹ 67.9k Crs ₹ 2,275 Crs (3%) (5%) (9%) 7% Capital Adequacy Ratio* 75.8% *Includes quart
Slide 11: Delivering Long Term Sustainable Value
Delivering Long Term Sustainable Value Cash Profit Accretion (₹ Crs) Reinvesting in Technology (Capex) (₹ Crs) 21% YoY 17% YoY 52.6 54.9 48.3 49.5 50.5 44.9 45.0 41.1 41.8 30.2 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 ₹ EBITDA (₹ Crs) Earning Per Share (₹) 16% YoY 60.2 63.9 61.6 5
Slide 12: Geographical Presence
Geographical Presence (in 000’s) Jammu & Kashmir 4.4 Himachal Pradesh 6.4 Punjab 49.9 Meghalaya 2.2 Uttarakhand 11.3 Haryana 51.5 Sikkim 2.7 Assam 34.0 Merchants* Branches & Delhi 38.6 Uttar Pradesh 327.8 (‘000) CSPs Tripura 6.2 Merchant / Mix Count / Mix Rajasthan 132.0 Bihar 264.1 1,946 / 100% 117
Slide 13: Financial Highlights
Financial __ Highlights a TT
Slide 14: Bank Level Profit & Loss
Bank Level Profit & Loss Particulars (₹ Crs) Q1’26 Q4’25 Q1’25 QoQ (%) YoY (%) FY’25 Revenue 453.5 493.5 436.9 (8%) 4% 1,847.1 Product Cost 301.6 338.1 301.5 (11%) 0% 1,265.3 Net Revenue 151.9 155.4 135.4 (2%) 12% 581.8 Net Revenue Margin % 33.5% 31.5% 31.0% 31.5% Operating Cost 90.3 91.4 82.2 (1%)
Slide 15: Financial Highlights
Financial Highlights Revenue (₹ Crs) PBT (₹ Crs) 16% CAGR 453.5 35% CAGR 436.9 24.3 24.6 348.3 18.7 289.1 10.1 3.5% 5.4% 5.6% 5.4% Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 EBITDA (₹ Crs) Cost to Income (%) 38% CAGR 128 bps 28.1% 26.8% 26.2% 61.6 25.4% 53.2 40.5 23.6 12.9% 8.2% 11.6% 12.2% 13.
Slide 16: Daily Average Throughput - Trend
Daily Average Throughput - Trend Headcount (₹ Crs) Daily Average Throughput 5x times 1,358 1,161 17% YoY Growth 833 668 456 275 2,610 2,755 Q1'21 Q1'22 Q1'23 Q1'24 Q1'25 Q1'26 Higher Productivity - Daily throughput has grown 5 times with marginal increase in number of employees #HarDinFino… 15
Slide 17: Business Evolution
Business Evolution (₹ Crs) Q1’26 | (Q1’25) Q1’26 Growth Business Revenue Q1'26 Q1'25 Revenue Mix NR Margin (YoY) % % Growing Business * 260.3 185.5 40% 57% | (42%) 39% (CASA & Digital Payment Services) Stable Business 70.2 71.4 (2%) 15% | (16%) 27% (CMS & BC Banking) Traditional Business 90.1 158.4
Slide 18: Product Revenue Mix
Product Revenue Mix QoQ YoY (₹ Crs) 493.5 453.5 7%, 33.9 453.5 436.9 7%, 35.4 8%, 35.8 8%, 35.8 7%, 32.0 6%, 27.0 8%, 34.4 8%, 34.4 9%, 39.4 7%, 32.8 6%, 21.5 7%, 32.8 22%, 107.8 20%, 90.1 20%, 90.1 36%, 158.4 27%, 134.4 23%, 106.3 23%, 106.3 15%, 66.8 31%, 155.0 34%, 154.0 34%, 154.0 27%, 118.7 Q4'
Slide 19: Product Portfolio – Growth & Margins
Product Portfolio – Growth & Margins Q1’26 Revenue QoQ YoY Q1’26 Combined Product Drivers (₹ Crs) Growth Growth Margins Margins Growing Business Customer ownership; CASA* 154.0 (1%) 30% 53% Path to annuity 39% Digital Payment UPI payments stack 106.3 (21%) 59% 20% Services Stable Business CMS High g
Slide 20: PAT & ROE
PAT & ROE Profit After Tax (₹ Crs) PAT 29.7 PBT 28.5 25.9 24.6 25.2 24.3 23.1 24.0 22.8 21.1 18.7 19.5 17.8 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25* Q3'25 Q4'25 Q1'26 Return on Equity (%) 15.3% 16.0% 16.0% 12.8% ROE on 16.4% PBT 15.4% 14.8% 13.6% 13.7% 13.2% 13.1% 12.5% 9.4% Q1'24 Q2'24 Q3'24 Q4'24 Q1'2
Slide 21: Fino 2.0 Digital Update
Fino 2.0 Digital Update
Slide 22: Digital – Q1'26 Snapshot
Digital – Q1’26 Snapshot (YoY Growth) Digitally Active Customers (in lakhs) 1.3x Times 53.2 6th 52.7 Ranking for Active Mobile Banking Users * 49.0 45.3 Contribution of 1.52% to UPI Transaction Ecosystem in 42.3 Q1’26 ( 10 bps) ~1 Cr Daily average UPI transaction count ( 54%) Jun'24 Sep'24 Dec'24 Ma
Slide 23: Digital Momentum
Digital Momentum Transaction Count (in Crs) Digital Throughput (₹ Crs) Revenue (₹ Crs) 1.6x times 99. 0 1.5x Times 80,0 00 1.5x times 89.1 74,900 134.4 76,0 00 87.0 89. 0 72,0 00 67,872 68,0 00 76.6 64,0 00 58,992 109.7 106.3 79. 0 60,0 00 47,393 56,0 00 65.5 69. 0 52,0 00 44,197 48,0 00 44,0 00 79.
Slide 24: Digital & Non-Digital – Throughput Trend
Digital & Non-Digital – Throughput Trend Non Digital Digital 24% 55% 6% Q1’22 Q1’24 Q1’26 94% 76% 45% UPI continues to be the flag bearer of India’s digital journey & Fino is at the forefront of this digital revolution #HarDinFino… 23
Slide 25: Product Level Performance
Product Level Performance
Slide 26: Ownership Momentum Continues
Ownership Momentum Continues No. of CASA Accounts (in Lakhs) Debit card spends per transaction Average Deposits (₹ Crs) 149.9 5% CAGR 41% CAGR 2,275 40% CAGR 3,411 117.9 1,699 3,218 3,224 85.6 1,243 54.5 2,966 810 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 Active CASA cu
Slide 27: Customer Stickiness
Customer Stickiness Renewal Income (₹ Crs) Customer Avg. Balance (₹) 55.9 61% CAGR 9% CAGR 1,317 40.4 1,204 26.2 1,105 1,023 13.4 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 Total Revenue Renewal Revenue 8% 9% 12% Q1’23 5% Q1’24 Q1’25 Q1’26 95% ₹ 289.1 Cr 92% ₹ 348.3 Cr 91% ₹ 436.9 Cr 88% ₹ 453.
Slide 28: Renewal Income - Trend
Renewal Income - Trend (₹ Crs) 20x times 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 Renewal is vote of Confidence - Building Customer Loyalty #HarDinFino… 27
Slide 29: Average Deposits & Cost of Funds - Trend
Average Deposits & Cost of Funds - Trend (₹ Crs) 4.8x times 2,275 2,116 1,890 1,699 1,696 1,540 1,358 1,243 1,267 1,103 955 810 851 2.2% 2.2% 2.2% 689 2.1% 2.1% 2.1% 2.1% 573 2.0% 2.0% 2.0% 2.0% 475 489 1.9% 1.9% 1.8% Edge 1.7% over 1.6% Average Deposits Competition 1.5% Cost of Funds Q1'22 Q2'22 Q3
Slide 30: UPI v/s Non-UPI Customer
UPI v/s Non-UPI Customer Avg. transaction count per customer Monthly Average Balance (₹) Non - UPI 47 2,472 39 2,288 2,250 2,324 UPI 21x 3x 29 23 636 746 558 556 2.7 2.7 2.5 2.3 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 Throughput (₹ Crs) Avg. ticket size (₹) 52,829 2,972 2,757 2,695 2,571 4x
Slide 31: Customer Acquisition Quality
Customer Acquisition Quality ₹ 619 1,748 1,733 1,528 1,557 1,557 1,489 1,453 1,430 1,394 1,419 1,392 M3 1,310 1,309 1,312 M3 – Month 3 average 1,215 balance of customer 1,129 from onboarding 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 ₹ 540 1,754 1
Slide 32: D2C Customer – UPI
D2C Customer – UPI UPI P2M Throughput (₹ Crs) UPI P2M Count (Crs) 9.5x times 7,388 9.9x times 36.7 5,687 25.2 12.3 2,065 778 3.7 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 P2P P2M UPI P2P & P2M - Throughput 16% 14% 8% 11% Q1’23 Q1’24 Q1’25 Q1’26 92% ₹ 9,441 Cr 89% ₹ 18,183 Cr ₹ 36,028 Cr ₹ 52,8
Slide 33: CMS – High Margin Product (YoY)
CMS – High Margin Product (YoY) CMS Clients Throughput (₹ Crs) Transaction Count (in Crs) 13% CAGR 15% CAGR 29% CAGR 0.28 232 20,427 20,219 217 0.26 0.23 189 16,203 152 0.19 9,598 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 Q1'23 Q1'24 Q1'25 Q1'26 MFI slumber, digital revolution & competition im
Slide 34: CMS – Sector Diversification
CMS – Sector Diversification 13% 18% 27% 12% 16% 12% 5% 13% 5% 5% 4% 4% Q1’24 Q1’25 Q1’26 54% 61% 51% Throughput ₹ 16,203 Cr ₹ 20,219 Cr ₹ 20,427 Cr NBFC & MFI E-com (Logistic) CRA Retail & others Banks Diversification driving sustainable throughput #HarDinFino… 33
Slide 35: Remittance
Remittance QoQ YoY Take Rate (%) Revenue (₹ Crs) 112.5 60.0 46.9 1.04 46.9 0.86 Q1'25 Q1'26 Q4'25 Q1'26 Q1'25 Q1'26 Throughput (₹ Crs) Average Ticket Size (₹) 5,684 13,088 3,377 4,519 2,934 4,519 Q4'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Overall industry impact ~60% due to introduction of new regulations
Slide 36: AEPS
AEPS QoQ YoY Take Rate* (%) Revenue (₹ Crs) 31.5 30.1 29.3 30.1 0.38 0.38 Q4'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Throughput (₹ Crs) Average Ticket Size (₹) 8,127 7,918 7,800 7,918 2,563 2,654 Q4'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 * Basis Throughput Regulator continues to tighten merchant onboarding & mon
Slide 37: Micro-ATM
Micro-ATM QoQ YoY Take Rate* (%) Revenue (₹ Crs) 16.3 16.7 13.1 13.1 0.24 0.23 Q4'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Throughput (₹ Crs) Average Ticket Size (₹) 2,593 1,786 1,785 3,568 3,519 1,785 Q4'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 * Basis Throughput Significant shift towards digital payments leading
Slide 38: Key Business Partners
Key Business Partners #HarDinFino… 37
Slide 39: 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@finobank.com Tel: 022 – 7104 7000 Scan to locate