Fino Payments Bank has notified the stock exchanges of a scheduled analyst and institutional investor meeting, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on May 08, 2026, by Company Secretary and Compliance Officer Basavraj Loni from Navi Mumbai.

Meeting Details

The bank's representatives are scheduled to meet with Voyager Capital (Principia Advisors LLP) on Monday, May 11, 2026. The following table summarises the key details of the scheduled interaction:

Regulatory Compliance

The intimation has been made in accordance with Regulation 30 of the SEBI Listing Regulations, which mandates listed entities to disclose schedules of analyst and institutional investor meetings. Fino Payments Bank has explicitly stated that only information available in the public domain will be shared or discussed during the interaction. The bank has confirmed that no unpublished price sensitive information will be disclosed at the meeting.

The bank has also noted that the above schedule is subject to change, which may occur due to exigencies on the part of the analysts, investors, or the bank itself. The disclosure is additionally available on the bank's official website at www.fino.bank.in .

Fino Payments Bank announced its audited financial results for FY26 at a board meeting held on April 29, 2026, reporting significant profitability challenges across both quarterly and annual metrics. The bank subsequently held an earnings conference call with investors and analysts on April 30, 2026, where Interim CEO Ketan Merchant described FY26 as "the most defining year in Fino's journey since inception," highlighting resilience in deposits and progress on the Small Finance Bank (SFB) transition despite a challenging operating environment.

Annual Financial Performance

The bank's annual performance reflected substantial headwinds. Net profit for FY26 declined 43% to ₹5,246 lakhs from ₹9,253 lakhs in the previous fiscal year. Total income decreased 14% year-on-year to ₹1,58,793 lakhs from ₹1,84,710 lakhs in FY25. Interest earned showed positive growth of 27% to ₹24,818 lakhs from ₹19,523 lakhs, primarily driven by income on investments which increased to ₹18,136 lakhs from ₹15,174 lakhs. Management attributed the revenue decline to regulatory-driven contraction in digital payments from Q2 onwards, the industry-wide collapse of bank-led DMT remittances following the November 2024 RBI circular, and a slowdown in the NBFC and MFI sector.

Q4 Performance Highlights

The fourth quarter performance showed continued pressure on profitability. Net profit for Q4 dropped significantly to ₹710 lakhs compared to ₹2,400 lakhs in the corresponding quarter of the previous year, representing a 70% decline. Total income for the quarter decreased to ₹33,998 lakhs from ₹49,349 lakhs year-on-year. Interest earned during Q4 increased 21% to ₹6,410 lakhs from ₹5,278 lakhs, while other income declined 37% to ₹27,588 lakhs from ₹44,071 lakhs. Management noted that margins expanded by 250 basis points quarter-on-quarter and 500 basis points on a full year basis, reflecting a shift from low-margin to high-margin ownership business. Quarterly depreciation stood at ₹23 crores, primarily on account of the CBS capitalization following the Finacle core banking system migration completed during Q4.

Deposit Franchise and CASA Growth

Despite profitability challenges, the bank demonstrated strong balance sheet fundamentals and deposit momentum. Total deposits grew substantially to ₹2,37,949 lakhs from ₹1,93,944 lakhs in the previous year. The Capital Adequacy Ratio improved to 83.95% from 80.45%, significantly above the 15% regulatory requirement. Net worth increased to ₹60,391 lakhs compared to ₹57,186 lakhs in FY25. Total assets expanded to ₹5,31,190 lakhs from ₹4,20,593 lakhs, while borrowings increased to ₹1,53,530 lakhs from ₹83,946 lakhs. The CASA customer base stood at 1.75 crore accounts as of March 31, 2026, growing 22% year-on-year, with approximately 6.9 lakh new accounts added in Q4 alone. In March 2026, the bank opened 3.2 lakh new accounts — described by management as the highest in the last three years — and total deposit balance reached an all-time high of ₹2,957 crores.

Renewal Income and Digital Business

Renewal income emerged as a key performance highlight for the year. Q4 FY26 renewal income reached ₹62.2 crores, the highest single-quarter renewal in the bank's history. Full year renewal income grew 25% to ₹237 crores from ₹190 crores in FY25. Management described renewal income as the "cleanest measure of customer ownership." On the digital payments front, the bank paused its UPI P2M business to undertake a comprehensive review of monitoring systems and risk frameworks. Revenue from the digital segment declined from ₹63 crores in Q3 to ₹41 crores in Q4, with the active client base declining from 347 in December 2025 to 229 in March 2026. Management confirmed that from the point of the pause onwards, digital payment revenues would be zero until the review is completed and a new plan is announced. Operating expenses including depreciation grew only 9% year-on-year for FY26, absorbing the Finacle core banking system migration investment. The business correspondence segment recorded revenue of approximately ₹140 crores in FY26; management noted this business is not permitted under the SFB model and strategic options are being evaluated.

SFB Transition and Technology Investments

The bank received in-principle approval from the Reserve Bank of India on December 5, 2025, to transition into a Small Finance Bank — making it the first payment bank in India to receive such approval. Management confirmed that SFB preparation timelines remain intact and execution is on track across all regulatory conditions, including network thresholds, capital adequacy, promoter shareholding, and branch rollout. The core banking system migration to Finacle was completed during Q4, representing an investment of approximately ₹200 crores. The bank also developed a modular "Hollow the Core" architecture to decouple high-frequency transaction handling. An additional capex of approximately ₹100 crores is planned, primarily for technology infrastructure enhancement, with branch costs expected to be immaterial given the asset-light merchant-led model. The bank's SFB business model targets a 20% ROE by FY30, anchored on a cost of funds advantage of approximately 300 basis points relative to typical Small Finance Banks, an asset-light merchant-led model leveraging 20 lakh-plus merchants, and a secured lending portfolio focused on affordable housing, gold loans, MSME, and loan against property. Management indicated that the cost of funds in FY30 is projected at around 3.9%, with NIMs expected in the range of 8% to 10%, and that approximately two-thirds of both assets and liabilities are expected to be sourced through the merchant network. The referral lending business recorded disbursals of approximately ₹1,300 crores for FY26, with Q4 alone contributing approximately ₹592 crores — a 97% sequential increase. The bank earns approximately 100 basis points on the lending referral business. The CASA subscription renewal rate is being maintained at approximately 60% to 65%. Management also clarified that the reverse merger with the promoter entity, previously announced, will be explored subsequently after the SFB license is obtained, subject to regulatory permissibility. UPI incentives from the Government of India were not factored into FY26 results, and no line of sight exists for FY27 as of the call date.

Board Decisions and Leadership

The board approved the re-appointment of Mr. Aninda Mukherjee as Chief Risk Officer for a three-year term effective from May 3, 2026, to May 2, 2029. Mr. Mukherjee brings over 28 years of experience in banking and financial risk management, having previously served in senior roles at The Royal Bank of Scotland and ABN AMRO Bank. The earnings call was attended by Interim CEO Ketan Merchant, Interim CFO Anup Agarwal, Chief Business Officer Shailesh Pandey, and Chief Digital and Liabilities Officer Tejas Maniar.

Exceptional Items and Regulatory Compliance

The bank recognized exceptional items of ₹439 lakhs during FY26, including a one-time impact of ₹4.4 crores related to the implementation of new Labour Codes. The statutory auditors issued an unmodified opinion on the financial results for FY26. The audited financial results were published in Financial Express (English), The Free Press Journal (English), and Navshakti (Marathi) newspapers on April 30, 2026, pursuant to Regulation 47 of SEBI Listing Regulations. The earnings call transcript was submitted to stock exchanges on May 4, 2026, pursuant to Regulation 30 of SEBI Listing Regulations, and is available on the bank's website at www.fino.bank.in . Company Secretary Basavraj Loni confirmed all regulatory disclosures.