Fino Payments Bank Limited reported a significant surge in loan referral disbursals for September 2026, with volumes rising 223% YoY to ₹278 crore. The bank also recorded a 13% increase in average total deposits, reaching ₹2,794 crore, signaling sustained growth in its core banking metrics despite a contraction in transaction throughput.

The business performance update highlights a divergence between deposit growth and transaction activity. While the CASA base expanded to 1.91 crore accounts and renewal income grew 20% to ₹28.0 crore, the overall transaction throughput declined 10% YoY to ₹3,469 crore. This suggests that while the bank is successfully acquiring and retaining deposits, the velocity of transactions through its primary channels has slowed compared to the previous year.

Key Business Metrics

The following table details the key operational metrics for September 2026 compared to September 2025:

What the Numbers Show

A closer look at the data reveals a strategic shift in revenue drivers. The sharp 223% increase in loan referral disbursals to ₹278 crore contrasts with the 10% decline in general transaction throughput. This indicates that the bank is increasingly leveraging its customer base for fee-based income through loan referrals rather than relying solely on transaction volume. Additionally, the 10% growth in Cash Management Services (CMS) throughput to ₹6,918 crore offsets some of the slowdown in retail transaction volumes, highlighting the resilience of the B2B segment.

Digital Engagement and Deposit Trends

Digital adoption remains a key growth pillar, with digitally active customers rising 13% to 64.9 lakh. The number of FinoPay active customers also grew by 12% to 8.1 lakh. However, account openings saw a 17% decline to 2,44,763, suggesting that while existing customers are more engaged, new user acquisition has slowed. The bank noted that the increase in the CASA base and sustained progress in the CMS segment continue to reinforce its growth momentum.

Fino Payments Bank has extended the tenure of Anup Agarwal as interim Chief Financial Officer by up to 3 months, with the extension taking effect from October 6, 2026.

Extension details

The following table summarises the key details of the appointment extension:

Agarwal continues in the interim CFO capacity at Fino Payments Bank as the extension takes effect. The duration of up to 3 months indicates the arrangement remains temporary in nature, with the bank retaining flexibility on the timeline.

Board approval and profile

The Board of Directors approved the extension at its meeting held on October 1, 2026, based on the recommendation of the Nomination & Remuneration Committee. The meeting commenced at 4:00 pm and concluded at 4:25 pm.

Anup Agarwal is a qualified Chartered Accountant with 20 years of experience in finance. He has held positions at Deutsche Bank India, Standard Chartered Bank India, and Maersk Group. He has been associated with Fino Payments Bank since June 2022, leading Head Finance - Investor Relation & Analytics. He has served as Interim CFO since March 6, 2026.