Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q4 FY2025 Earnings Presentation
49 slides from Fino Payments Bank's earnings presentation, Apr 28, 2025
Slide 1: Exchange filing cover letter
April 28, 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 Q4'25 & FY'25
Classification: Confidential Investor Presentation Q4’25 & FY’25 #HarDinFino… Classification: Confidential
Slide 3: Table of Content
Classification: Confidential Table of Content 1 Strategic Update…………. 2 Financial Highlights……… Financial Highlights 3 Fino 2.0 – Digital Update 4 Product Performance…… #HarDinFino… Classification: #HarDinFino… Confidential 2
Slide 4: Strategic Update
Classification: Confidential Strategic Update Scan to open bank account #HarDinFino… Classification: Confidential
Slide 5: Key Highlights of FY'25
Classification: Confidential Key Highlights of FY’25 Sustainable Business Model – 25% YoY revenue growth achieved; in line with the guidance Expanding Ownership Business – Customer base of 1.43 crores including 5.5+ lakh accounts opened digitally (~53 lakh digitally active in Mar’25) Building Liabil
Slide 6: Robust Business Model – FY'25
Classification: Confidential Robust Business Model – FY’25 (% Growth YoY) Digital Throughput Digital ₹ 225.5k Crs Advancement 70% Transaction Count Business 337.9 Crs Volume 60% Revenue Financial ₹ 1,847.1 Crs Strength 25% Merchant Count Strong 19.0 Lakhs Distribution 9% Profit Before Tax Building ₹
Slide 7: Key Strengths – FY'25
Classification: Confidential Key Strengths – FY’25 Strong customer Seamless – Digital base of 1.43 Crs (UPI) platform serving 1% of “FinoPay” India’s population (Android & iOS) 5 years of Profitability ~53 lakh digitally Strong presence with Deposit led franchise active customers 19 lakh banking wit
Slide 8: Performance at Glance
Classification: Confidential Performance at Glance Q4’25 YoY FY’25 YoY Revenue ₹ 494 Crs 23% ₹ 1,847 Crs 25% PBT ₹ 30 Crs 18% ₹ 108 Crs 26% Digital Throughput ₹ 75k Crs 75% ₹ 225k Crs 70% Throughput ₹ 131k Crs 27% ₹ 461k Crs 29% #HarDinFino… Classification: #HarDinFino… Confidential 7
Slide 9: Q4'25 Key Business Highlights (YoY)
Classification: Confidential Q4’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 493.5 Crs ₹ 63.9 Crs ₹ 29.7 Crs ₹ 54.9 Crs 23% 18% 18% 28% Digital Average Txn. Count Throughput Throughput Deposits 100.5 Crs ₹ 130.6k Crs ₹ 74.9k Crs ₹ 2,116 Crs 62% 27% 75% 37% Capital Adequacy Ratio
Slide 10: FY'25 Key Business Highlights (YoY)
Classification: Confidential FY’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 1,847.1 Crs ₹ 234.4 Crs ₹ 108.3 Crs ₹ 191.2 Crs 25% 22% 26% 28% Digital Average Txn. Count Throughput Throughput Deposits 337.9 Crs ₹ 461.0k Crs ₹ 225.5k Crs ₹ 1,849 Crs 60% 29% 70% 37% Capital Adequacy
Slide 11: Delivering Long Term Sustainable Value
Classification: Confidential Delivering Long Term Sustainable Value Cash Profit Accretion Investment Reinvesting in Capex (₹ (Capex) in Technology Crs) 191.2 37% CAGR 164.5* 31% CAGR 149.6 118.1 103.8 94.5 85.4 64.4 FY'22 FY'23 FY'24 FY'25 FY'22 FY'23 FY'24 FY'25 ₹ * Includes CWIP - CBS migration ₹
Slide 12: Geographical Presence
Classification: Confidential Geographical Presence (in 000’s) Jammu & Kashmir 4.3 Himachal Pradesh 6.3 Punjab 48.9 Meghalaya 2.2 Uttarakhand 11.0 Haryana 50.0 Sikkim 2.7 Assam 33.1 Merchants* Branches & Delhi 38.0 Uttar Pradesh 320.6 (‘000) CSPs Tripura 6.1 Merchant / Mix Count / Mix Rajasthan 129.1
Slide 13: Financial Highlights
Classification: Confidential Financial Highlights Scan to open bank account #HarDinFino… Classification: Confidential
Slide 14: Bank Level Profit & Loss
Classification: Confidential Bank Level Profit & Loss Particulars Q4’25 Q3’25 Q4’24 QoQ (%) YoY (%) FY’25 FY’24 YoY (%) (₹ Crs) Revenue 493.5 461.3 401.3 7% 23% 1,847.1 1,478.4 25% Product Cost 338.1 313.3 273.3 8% 24% 1,265.3 999.8 27% Net Revenue 155.4 148.1 128.0 5% 21% 581.8 478.6 22% Net Revenu
Slide 15: Financial Highlights
Classification: Confidential Financial Highlights Revenue (₹ Crs) 20% CAGR 22% CAGR 1,847.1 493.5 1,478.4 401.3 1,229.9 323.4 1,008.9 285.3 Q4'22 Q4'23 Q4'24 Q4'25 FY'22 FY'23 FY'24 FY'25 EBITDA (₹ Crs) 30% CAGR 63.9 41% CAGR 234.4 54.2 43.0 191.4 136.1 29.4 84.4 10.3% 13.3% 13.5% 13.0% 8.4% 11.1% 1
Slide 16: Financial Highlights
Classification: Confidential Financial Highlights PBT (₹ Crs) 19% CAGR 36% CAGR 108.3 29.7 25.3 86.3 22.1 65.1 17.6 42.7 6.2% 6.8% 6.3% 6.0% 4.2% 5.3% 5.8% 5.9% Q4'22 Q4'23 Q4'24 Q4'25 FY'22 FY'23 FY'24 FY'25 Cost to Income (%) 0.3% 28.3% (2.7%) 26.5% 26.3% 25.9% 25.6% 25.6% 25.5% 25.2% Q4'22 Q4'23
Slide 17: Daily Average Throughput - Trend
Classification: Confidential Daily Average Throughput - Trend (₹ Crs) 1,263 10x times 979 699 513 ₹ 1,451 Cr 364 Daily Average 258 Throughput in Q4’25 125 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25 Growing every single year with an incremental quantum #HarDinFino… Classification: #HarDinFino… Confide
Slide 18: Product Revenue Mix
Classification: Confidential Product Revenue Mix ( ₹ Crs) Q4’24 v/s Q4’25 FY’24 v/s FY’25 1,847.1 493.5 6%, 98.4 6%, 27.0 8%, 156.3 7%, 33.9 1,478.4 401.3 7%, 131.1 7%, 35.4 5%, 81.0 6%, 21.4 10%, 143.9 8%, 32.5 22%, 107.8 9%, 128.3 28%, 525.9 9%, 37.8 40%, 158.9 27%, 134.4 44%, 650.8 21%, 390.3 9%,
Slide 19: Product Portfolio – Growth & Margins
Classification: Confidential Product Portfolio – Growth & Margins Q4’25 Revenue FY’25 Revenue Q4’25 FY’25 Product Drivers (₹ Crs); (₹ Crs); Margins Margins YoY Growth YoY Growth Customer ownership; Path to 155.1 545.1 CASA* 53% 53% annuity 36% 43% 35.4 156.3 CMS High growth high margin business 34%
Slide 20: PAT & ROE – Tax Paying From Q2'25
Classification: Confidential PAT & ROE – Tax Paying From Q2’25 Profit After Tax (₹ Crs) PBT 29.7 PBT for Q4’25 at 28.5 PAT 25.9 ₹ 29.7 Cr 22.1 18.7 19.5 22.8 25.2 24.3 21.1 23.1 24.0 18% growth over Q4’24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 PAT for Q4’25 at Return on Equity (%) ₹ 2
Slide 21: Fino 2.0 Digital Update
Classification: Confidential Fino 2.0 Digital Update Scan to open bank account #HarDinFino… Classification: Confidential
Slide 22: Digital – Q4'25 Snapshot
Classification: Confidential Digital – Q4’25 Snapshot (YoY Growth) One of the few banks to Digital throughput comprises develop ‘UPI 57% of total throughput Circle’ feature Throughput ₹ 75k Crs Contributed 1.62% to UPI Transaction Ecosystem in ( 75%) Q4’25 ~1 Cr Daily average ~53 lakh digitally acti
Slide 23: FINO – UPI Universe
Classification: Confidential FINO – UPI Universe Highlights: ▪ More than 100 services across payments, accounts, debit card, service requests, etc. ▪ Rated consistent at 4.2 on Play Store with more than 45,000 ratings ▪ Around 6.3 lakh average monthly active users on FinoPay in Q4’25 Comprehensive a
Slide 24: Fino's Contribution to the UPI Ecosystem
Classification: Confidential Fino’s Contribution to the UPI Ecosystem UPI Remitter Ranking* 18 UPI Beneficiary Ranking* 21 21 21 21 1.62% 22 22 1.57% 23 23 1.50% 1.42% 1.27% 19 19 19 1.24% 1.23% 20 22 23 24 25 27 1.01% 0.94% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 * As per NPCI Data Ov
Slide 25: Digital D2C & Mobile Banking
Classification: Confidential Digital D2C & Mobile Banking Digitally Active Customers (in lakhs) 1.3x Times 52.7 49.0 45.3 42.3 40.9 7 7 7 7 Active Mobile 9 Banking Users Ranking* Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 * As per RBI Data Easy, Friendly & Seamless experience via FinoPay App #HarDinFino… Cl
Slide 26: Digital Momentum Continues (Q4 - YoY)
Classification: Confidential Digital Momentum Continues (Q4 - YoY) Transaction Count (in Crs) Digital Throughput (QoQ) (₹ Crs) Revenue (₹ Crs) 99. 0 1.8x Times 89.1 1.7x times 74,900 134.4 89. 0 3.7x times 58,992 76.6 109.7 79. 0 47,393 65.5 69. 0 44,197 42,915 79.3 56.6 59. 0 66.8 49.4 49. 0 39. 0
Slide 27: Digital Momentum Continues (FY - YoY)
Classification: Confidential Digital Momentum Continues (FY - YoY) Transaction Count (in Crs) Digital Throughput (₹ Crs) Revenue (₹ Crs) 319 .0 287.8 240 ,000 4.1x Times 236 ,000 232 ,000 4.6x times 225,482 228 ,000 224 ,000 220 ,000 47.3x times 390.3 216 ,000 212 ,000 269 .0 208 ,000 204 ,000 200 ,
Slide 28: Digital & Non-Digital - Trend
Classification: Confidential Digital & Non-Digital - Trend Non Digital Digital 49% 10% 99% FY’19 1% FY’22 FY’25 90% 51% Indian economy moving towards digital economy & Fino in the forefront of this digital revolution #HarDinFino… Classification: #HarDinFino… Confidential 27
Slide 29: Digital Payment Services Model
Classification: Confidential Digital Payment Services Model Scan to open bank account #HarDinFino… Classification: Confidential
Slide 30: Digital Payment Services – B2B Model
Classification: Confidential Digital Payment Services – B2B Model Direct Merchant Model Partner Model ✓ We onboard a merchant ✓ We integrate with a partner ✓ Print and install QR code on merchant retail outlet ✓ API integration with partner to enable digital payment acceptance ✓ Instant notification
Slide 31: Direct Merchant Model
Classification: Confidential Direct Merchant Model 1 3 What Fino Does - Customers visit outlet Instant notification given which is onboarded as a to store manager on retail merchant payment Onboarding of merchants Printing and installing QR codes Merchant Fino Authorization & Collection of merchant
Slide 32: Partner Model
Classification: Confidential Partner Model 1 3 What Fino Does - Customers select UPI as Customers visit the payment option on Onboarding of payment Merchant platform checkout aggregators / program manager Onboarding merchants Merchant Partner Fino Authorization & Collection of merchant transaction S
Slide 33: Product Performance
Classification: Confidential Product Performance Scan to open bank account #HarDinFino… Classification: Confidential
Slide 34: Ownership Momentum Continues (Q4 - YoY)
Classification: Confidential Ownership Momentum Continues (Q4 - YoY) No. of CASA Accounts (in Lakhs) Accounts Opened per Day Average Deposits (₹ Crs) 9% CAGR 45% CAGR 44% CAGR 9,602 2,116 143.0 9,237 9,310 109.8 1,540 7,462 78.0 1,103 48.3 689 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4
Slide 35: Ownership Momentum Continues (FY - YoY)
Classification: Confidential Ownership Momentum Continues (FY - YoY) No. of CASA Accounts (in Lakhs) Accounts Opened per Day Average Deposits (₹ Crs) 18% CAGR 9,110 49% CAGR 1,849 44% CAGR 143.0 8,685 8,133 109.8 1,352 78.0 929 5,545 48.3 556 FY'22 FY'23 FY'24 FY'25 FY'22 FY'23 FY'24 FY'25 FY'22 FY'
Slide 36: Customer Stickiness (Q4 - YoY)
Classification: Confidential Customer Stickiness (Q4 - YoY) Renewal Income (₹ Crs) Customer Balance (₹) 74% CAGR 55.7 9% CAGR 1,356 1,287 1,176 39.9 1,036 25.5 10.6 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4'23 Q4'24 Q4'25 8% 10% 11% Q4’22 4% Q4’23 Q4’24 Q4’25 96% ₹ 285.3 Crs ₹ 323.4 Crs ₹ 401.3 Crs ₹ 493.5 C
Slide 37: Customer Stickiness (FY - YoY)
Classification: Confidential Customer Stickiness (FY - YoY) Renewal Income (₹ Crs) Customer Balance (₹) 90% CAGR 189.6 9% CAGR 1,356 1,287 1,176 1,036 127.8 73.1 27.5 FY'22 FY'23 FY'24 FY'25 FY'22 FY'23 FY'24 FY'25 9% 10% FY’22 3% FY’23 6% FY’24 FY’25 97% ₹ 1,008.9 Crs ₹ 1,229.9 Crs ₹ 1,478.4 Crs ₹
Slide 38: Renewal Income - Trend
Classification: Confidential Renewal Income - Trend (₹ Crs) 20x times 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 Renewal is vote of Confidence - Building Customer Loyalty
Slide 39: Average Deposits - Trend
Classification: Confidential Average Deposits - Trend (₹ Crs) 4x times 2,116.3 1,890.1 1,699.5 1,695.7 1,539.7 1,358.1 1,243.3 1,266.9 1,103.3 954.8 809.5 850.5 688.7 573.4 475.4 489.5 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 Increase in deposit
Slide 40: D2C Customer – UPI P2M
Classification: Confidential D2C Customer – UPI P2M UPI P2M Throughput (₹ Crs) 125% CAGR 6,822 162% CAGR 24,653 4,846 12,545 1,146 4,095 603 1,374 Q4'22 Q4'23 Q4'24 Q4'25 FY'22 FY'23 FY'24 FY'25 UPI P2M Count (Crs) 137% CAGR 33.9 159% CAGR 117.2 21.9 66.7 7.3 24.2 2.6 6.7 Q4'22 Q4'23 Q4'24 Q4'25 FY'
Slide 41: CMS – High Margin Product (Q4 - YoY)
Classification: Confidential CMS – High Margin Product (Q4 - YoY) CMS Clients Throughput (₹ Crs) Transaction Count (in Crs) 21% CAGR 35% CAGR 21% CAGR 230 0.30 19,486 208 18,412 186 0.24 0.22 13,840 131 0.17 7,864 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4'23 Q4'24 Q4'25 Q4'22 Q4'23 Q4'24 Q4'25 ▪ 36 Clients w
Slide 42: CMS – High Margin Product (FY - YoY)
Classification: Confidential CMS – High Margin Product (FY - YoY) CMS Clients Throughput (₹ Crs) Transaction Count (in Crs) 21% CAGR 22% CAGR 1.12 230 52% CAGR 83,451 208 0.93 186 67,539 0.83 131 48,378 0.61 23,885 FY'22 FY'23 FY'24 FY'25 FY'22 FY'23 FY'24 FY'25 FY'22 FY'23 FY'24 FY'25 ▪ 42 Clients
Slide 43: CMS – Sector Diversification (Q4 - YoY)
Classification: Confidential CMS – Sector Diversification (Q4 - YoY) 16% 13% 14% 16% 15% 15% 4% 4% 16% 6% 5% 4% Q4’23 Q4’24 Q4’25 64% 62% 46% Throughput ₹ 13,840 Cr ₹ 18,412 Cr ₹ 19,486 Cr NBFC & MFI E-com (Logistic) CRA Retail & Others Banks ▪ 16 states with average monthly throughput over ₹ 100 Cr
Slide 44: CMS – Sector Diversification (FY - YoY)
Classification: Confidential CMS – Sector Diversification (FY - YoY) 18% 15% 13% 20% 13% 13% 8% 3% 16% 5% 4% 5% FY’23 FY’24 FY’25 48% 60% 59% Throughput ₹ 48,378 Cr ₹ 67,539 Cr ₹ 83,451 Cr NBFC & MFI E-com (Logistic) CRA Retail & Others Banks ▪ 8 states with average monthly throughput over ₹ 300 Cr+
Slide 45: Remittance
Classification: Confidential Remittance Q4’25 Revenue (₹ Crs) FY’25 Take Rate (%) 455.1 117.7 341.3 1.06 60.0 0.86 Q4'24 Q4'25 Q4'24 Q4'25 FY'24 FY'25 Throughput (₹ Crs) Average Ticket Size (₹) 13,668 52,695 3,311 36,018 5,684 2,931 Q4'24 Q4'25 FY'24 FY'25 Q4'24 Q4'25 ▪ Overall industry impact due t
Slide 46: AEPS
Classification: Confidential AEPS Q4’25 Revenue (₹ Crs) FY’25 Take Rate (%) 31.5 119.9 25.6 109.6 0.39 0.35 Q4'24 Q4'25 FY'24 FY'25 Q4'24 Q4'25 Throughput (₹ Crs) Average Ticket Size (₹) 32,873 31,189 8,127 2,614 2,507 7,372 Q4'24 Q4'25 FY'24 FY'25 Q4'24 Q4'25 Showing signs of reclaiming cash withdr
Slide 47: Micro-ATM
Classification: Confidential Micro-ATM Q4’25 Revenue (₹ Crs) FY’25 Take Rate* (%) 15.6 16.3 86.1 64.7 0.35 0.31 Q4'24 Q4'25 FY'24 FY'25 Q4'24 Q4'25 Throughput (₹ Crs) Average Ticket Size (₹) 2,899 13,032 3,938 8,516 3,552 1,786 Q4'24 Q4'25 FY'24 FY'25 Q4'24 Q4'25 Overall cash withdrawal business mov
Slide 48: Key Business Partners
Classification: Confidential Key Business Partners #HarDinFino… Classification: #HarDinFino… Confidential 47
Slide 49: 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