Results · Financial Services

Fino payments bank reports Q3 results and seeks RBI approval for conversion

By Startup Enthusiast · 29 January 2026

What they do

Fino Payments Bank is a listed financial institution focused on retail banking services

The company announced Q3 FY26 results showing a decline in net profit compared to the previous year

Regulator RBI has granted in-principle approval for the bank's conversion into a Small Finance Bank

Fino Payments Bank announced Q3 FY26 results on January 29, 2026.
The bank reported a net profit of INR 12.3 crore, which is a 47% drop year-on-year.
Total income fell by 15% to INR 394.4 crore during the same quarter.
However, EBITDA grew by 6% to reach INR 63.9 crore in Q3 FY26.
The RBI approved Rishi Gupta’s reappointment as MD/CEO effective May 2, 2026.
Gupta’s remuneration package for FY24-25 was ₹5.70 crore including fixed and variable components.
The regulator also gave in-principle approval for Fino to convert into a Small Finance Bank.
A shareholder postal ballot is scheduled for February 28 to March 29, 2026.

The conversion to a Small Finance Bank allows the bank to offer full banking services.
This strategic shift aims to expand its product offerings beyond current payment limits.
Strong transaction growth supports the transition to a broader banking model.

Fino operates as a payments bank with plans to become a Small Finance Bank.
Revenue streams include retail banking, treasury operations, and other banking activities.
Retail banking revenue grew 22% to INR 128.2 crore in Q3 FY26.
Treasury income increased 28% to INR 63.3 crore during the quarter.
Other banking operations saw a 33% decline in revenue to INR 202.9 crore.
The bank migrated its core platform to Finacle during Q3 FY26.
It serves 1.68 crore CASA customers with nearly 60 lakh digitally active users.
Digital throughput reached INR 66.1K crore, up 12% year-on-year.
The EBITDA margin improved to 16.2%, rising by 300 basis points.

Shareholders will vote on executive remuneration via postal ballot in early 2026.
The bank will proceed with the conversion process to become a Small Finance Bank.
Management aims to strengthen its digital ecosystem and phygital model.