Fino Payments Bank Limited has submitted its quarterly compliance statement to stock exchanges, confirming no deviations in the utilization of funds raised through its Initial Public Issue for the quarter ended December 31, 2025. The statement was filed pursuant to Regulation 32 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

IPO Fund Utilization Details

The bank's fund utilization statement provides comprehensive details of its public issue proceeds and their deployment:

Complete Fund Deployment Achieved

The bank has successfully utilized the entire net proceeds of Rs. 283.36 crore for the originally stated purpose of augmenting its Tier-1 capital base to meet future capital requirements. The statement confirms that there were no deviations in the objects or purposes for which the funds were raised, nor any variations in the amount of funds utilized as against the original disclosure.

Regulatory Compliance and Oversight

The quarterly statement was reviewed by the bank's Audit Committee during its meeting held on January 29, 2026. The committee confirmed that there were no deviations or variations in the utilization of the IPO funds during the reporting quarter. Company Secretary and Compliance Officer Basavraj Loni signed the compliance statement, which has also been made available on the bank's website at www.fino.bank.in .

Fund Utilization Framework

Under SEBI regulations, listed entities must report any deviations or variations in fund utilization, which could include:

• Deviation in the objects or purposes for which funds were raised
• Variation in the amount of funds actually utilized versus original disclosure
• Changes in terms of contracts referenced in fund raising documents

Fino Payments Bank's clean compliance record demonstrates effective fund management and adherence to its stated capital augmentation objectives since its public listing in 2021.

Fino Payments Bank Limited announced its financial results for the quarter ended December 31, 2025, revealing a challenging performance with significant declines in profitability despite maintaining operational efficiency and strong capital adequacy ratios.

Financial Performance Overview

The bank's financial performance for Q3FY26 showed mixed results, with declining revenues and profits but improved capital strength:

Revenue Composition and Trends

The bank's total income of ₹39,441 lakhs comprised interest earned of ₹6,296 lakhs and other income of ₹33,145 lakhs. Interest earned showed growth of 27.6% compared to Q3FY24, rising from ₹4,935 lakhs. However, other income declined significantly to ₹33,145 lakhs from ₹41,199 lakhs in the previous year quarter, representing a 19.5% decrease.

Income on investments contributed ₹4,617 lakhs to total interest earned, while interest on balances with RBI and inter-bank funds added ₹1,679 lakhs. The decline in other income, which primarily relates to fees and commission from various banking services including CASA, micro-ATMs, and digital payment services, impacted overall revenue performance.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the bank's performance showed similar trends:

Capital Adequacy and Financial Ratios

Despite the profit decline, Fino Payments Bank maintained strong capital metrics. The Capital Adequacy Ratio improved to 73.15% in Q3FY26 from 65.78% in Q3FY24, well above regulatory requirements. The bank's net worth stood at ₹55,052 lakhs compared to ₹57,502 lakhs in the previous year.

Earnings per share declined to ₹1.47 (basic) from ₹2.78 in Q3FY24. Return on Assets decreased to 0.27% from 0.63% in the corresponding quarter of the previous year. The debt-equity ratio increased to 1.53 from 1.11, while total debts to total assets ratio rose to 25.27% from 21.16%.

Segment-wise Performance

The bank's segment reporting revealed varied performance across different business lines. Retail Banking generated revenue of ₹12,821 lakhs in Q3FY26 compared to ₹10,538 lakhs in Q3FY24. Treasury operations contributed ₹6,325 lakhs versus ₹4,935 lakhs in the previous year. However, Other Banking Operations revenue declined significantly to ₹20,294 lakhs from ₹30,660 lakhs.

Leadership Changes and Exceptional Items

The board approved the re-appointment of Mr. Prayag Shashikant Gadgil as Head of Internal Audit for a two-year term from February 2, 2026, to February 1, 2028. Mr. Gadgil brings over 25 years of internal audit experience and holds qualifications as Chartered Accountant, Company Secretary, and Certified Internal Auditor.

The bank recognized exceptional items of ₹310 lakhs during the quarter, related to the estimated impact of new labour codes implemented by the Government of India in November 2025. This provision reflects the bank's assessment of additional compliance costs under the consolidated labour law framework.