Fino Payments Bank June update: Deposits rise 11%, loan referrals surge 3.5x

Fino Payments Bank announced its business update for June 2026 today, after-market hours, reporting steady growth in deposits and strong traction in its loan referral business.

Average total deposits increased 11% year-on-year to ₹2,755 crore, reflecting sustained growth in its deposit franchise and signalling steady progress in its transition towards a more comprehensive banking model.

The bank opened around 3.1 lakh new accounts during the month, taking its total customer base to 1.8 crore accounts. Digital engagement continued to strengthen through the FinoPay mobile application, with monthly active users increasing 38% to around 8.4 lakh.

Fino Payments Bank also said its loan referral business continued to gain strong momentum during the month.

"The Bank's loan referral business segment, which serves as a pilot for its proposed Small Finance Bank, continued to make strong progress, with referral loan disbursals increasing 3.5x to ₹240 crore. This underscores the strong credit potential within its customer ecosystem and supports the bank's long-term lending strategy," the bank said in its regulatory filing.

However, some business metrics remained under pressure. Transaction business throughput, which includes remittance, micro-ATM and AePS transactions, declined 35% year-on-year to ₹2,830 crore.

The bank attributed the decline to the continued shift in the payments ecosystem from cash to UPI, along with its focus on higher-quality, more active merchants. It added that the pace of decline has moderated compared with previous months.

The business update is based on provisional and unaudited numbers.

Meanwhile, in June, the bank announced a strategic partnership with fintech platform Ezee.ai to build a lending ecosystem and strengthen its lending capabilities as part of its transition into a small finance bank (SFB).

Under the partnership, Ezee.ai will deploy its artificial intelligence-powered Loan Origination System (LOS), Business Rules Engine (BRE) and Collections Management Platform to support the bank's lending operations, Fino Payments Bank said in a regulatory filing.

For the March quarter (Q4 FY26), the bank reported a 70.4% year-on-year decline in net profit to ₹7.1 crore, compared with ₹24 crore in the same quarter of the previous year.

Fino Payments Bank share price trend

The bank’s shares have been struggling to gain traction on the exchanges, remaining under pressure since September 2024. Although the stock attempted a recovery on multiple occasions, those gains were later sold into, deepening the decline further.

The stock closed in the red for four straight months between December 2025 and March 2026, losing a cumulative 63%, which dragged it 71% below its September 2024 peak of ₹467 apiece. The stock recovered some of its losses in recent months but still remains below December lows.

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