Fino Payments Shares Fell~13% Despite Recording Highest-Ever Deposit Balance

On March 16, 2026, Fino Payments Bank shares fell ~13%, reaching a day low of ₹146.65 after opening at ₹167.95 on BSE. The fall in Fino Payments shares follows the release of business update, wherein the bank reached a significant milestone by recording its highest-ever total deposit balance of nearly ₹2,900 crore as of March 13, 2026. The achievement highlights strong customer trust and growing engagement with the bank’s services.

Focus on Financial Inclusion

Deposit balances have increased by nearly 9% over the past two weeks, reflecting strong traction among customers. During the same period, the bank opened around 1.5 lakh new banking accounts since February 27, 2026, translating to an average of nearly 10,000 new accounts per day.

The milestone underscores continued customer confidence in the bank’s simple, secure and technology-enabled banking services. The rollout of the bank’s new core banking platform has further enabled a seamless banking experience for customers.

Through its merchant-led “phygital” banking model, combining physical access points with digital infrastructure, Fino Payments Bank continues to expand its reach among underserved and underbanked communities. The model enables millions of customers across Bharat to access formal banking services conveniently.

Milestone in Transformation to Small Finance Bank

Earlier, Fino Payments Bank announced its financial and operational performance for the quarter ended December 31, 2025 (Q3 FY26 and the nine months ended FY26). During this period, the bank achieved another important milestone by becoming the first and only payments bank to receive in-principle approval from the Reserve Bank of India (RBI) to convert into a Small Finance Bank.

The bank also completed the migration of its core banking system to the Finacle platform in January 2026, strengthening its technological capabilities and preparing it for the next phase of growth.

Fino Payments Financial Performance

Revenue for the third quarter of FY26 stood at ₹394.4 crore, marking a 15% year-on-year decline. For the nine-month period of FY26, revenue was ₹1,247.9 crore, down 8% compared with the same period last year. The decline was mainly due to reduced revenue from the bank’s traditional transaction-based business.

However, net revenue for Q3 FY26 remained stable at ₹147.9 crore and grew 5% year-on-year to ₹448.4 crore for the nine months ended FY26, reflecting improved revenue quality driven by product mix optimisation.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 6% year-on-year to ₹63.9 crore in Q3 FY26. The bank also recorded its highest-ever EBITDA margin of 16.2%, representing an expansion of 300 basis points compared with the previous year.

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