Fino Payments Bank Reports 204% Loan Referral Surge in April 2026 Business Update
Fino Payments Bank's April 2026 business performance update highlights a 204% YoY surge in loan referral disbursals to ₹166 crore, average total deposits rising 13% YoY to ₹2,801 crore, and digitally active customers growing 19% YoY to 62.1 lakh. Transaction business throughput declined 47% YoY to ₹2,649 crore, while B2B UPI P2M throughput fell 96% YoY to ₹101 crore, both attributed to strategic recalibration. The bank reaffirmed its focus on a liability-led franchise, scalable distribution, and progress towards its SFB implementation journey.
*this image is generated using AI for illustrative purposes only.
Fino Payments Bank has released its business performance update for April 2026, filed in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015. The update highlights continued momentum in the bank's liability franchise, growing digital engagement, and a significant acceleration in its loan referral business, with co-loan referral disbursals rising 204% YoY to ₹166 crore. The figures disclosed are based on provisional and unaudited numbers.
Key Business Highlights for April 2026
The following table summarises the bank's key performance metrics for April 2026 compared to April 2025:
| Particulars: | Unit | April 2026 | April 2025 | YoY (%) |
|---|---|---|---|---|
| CASA – Accounts Opened: | Nos. | 2,36,437 | 2,17,197 | 9% |
| Renewal Income: | ₹ Cr | 19.3 | 17.6 | 9% |
| Average Total Deposits: | ₹ Cr | 2,801 | 2,472 | 13% |
| Digitally Active Customers: | Lakh | 62.1 | 52.0 | 19% |
| FinoPay Active Customers: | Lakh | 7.7 | 6.0 | 28% |
| Transaction Business Throughput: | ₹ Cr | 2,649 | 4,986 | (47%) |
| B2B – UPI P2M Throughput: | ₹ Cr | 101 | 2,879 | (96%) |
| Loan Referral Disbursals: | ₹ Cr | 166 | 55 | 204% |
Liability Franchise Continues to Strengthen
The bank's customer ownership (CASA) focus remained central to its business model during April 2026. New customer acquisition continued across multiple channels, including the merchant network, website, the FinoPay app, and through alliances with B2B partners. Average total deposits increased 13% YoY to ₹2,801 crore, reflecting sustained growth of the bank's deposit franchise. The number of new accounts opened rose 9% YoY to 2,36,437, while renewal income grew 9% YoY to ₹19.3 crore.
Digital engagement recorded notable improvement during the period. Digitally active customers grew 19% YoY to 62.1 lakh, while users of the bank's own mobile application, FinoPay, increased 28% YoY to 7.7 lakh, indicating deeper customer engagement and growing digital adoption.
Loan Referral Business Records Strong Traction
The bank's loan referral business continued to gain strong traction during April 2026. Disbursals increased to ₹166 crore, reflecting a 204% YoY growth compared to ₹55 crore in April 2025—representing over 3x growth on a year-on-year basis. The bank noted that the continued momentum in this segment supports its long-term strategy of building key guardrails for its differentiated Small Finance Bank (SFB) model.
Transaction Business and Digital Payments Segment
Transaction business throughput, which covers remittance, Micro ATM, and AePS, moderated to ₹2,649 crore from ₹4,986 crore in April 2025, a decline of 47% YoY. The bank attributed this moderation primarily to the overall ecosystem shift from cash to UPI and a focus on better quality and more transacting merchants.
In the Digital Payment Services segment, B2B UPI P2M throughput declined to ₹101 crore from ₹2,879 crore in April 2025. The bank stated that this reflects a conscious strategic recalibration, with a measured approach prioritising throughput composition over volume to build the business on a more sustainable and risk-calibrated foundation.
Outlook
Fino Payments Bank stated that it entered the new financial year with a focus on making its liability-led franchise the defining architecture of its next phase. The bank highlighted that consistent customer acquisition, deeper digital engagement, and sustained deposit mobilisation will continue to shape its network deployment and priority allocation. The bank also noted that the ongoing shift in product mix, with CASA accounting for a growing share of the revenue base, is expected to support margin improvement compared to Fiscal 2026. The strong growth in the loan referral business was cited as reflecting foundational progress towards the bank's SFB implementation journey. The bank further stated that it continues to focus on building a differentiated and scalable banking franchise supported by a strong distribution network, technology-led customer engagement, and disciplined risk management practices.
Historical Stock Returns for Fino Payments Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.82% | +4.90% | +4.85% | -52.54% | -43.19% | -75.66% |
How soon could Fino Payments Bank realistically obtain a Small Finance Bank (SFB) license, and what regulatory milestones must it achieve before the transition?
With B2B UPI P2M throughput declining 96% YoY due to strategic recalibration, which alternative revenue streams is Fino targeting to compensate for the lost transaction volume?
As cash-based services like Micro ATM and AePS continue to decline structurally, how sustainable is Fino's merchant network model if transaction throughput keeps contracting?
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