Fino Payments Bank

Fino Payment Bank's Q3 net profit jumps by 35% on widening margins

Fino Payments Bank on Thursday posted a 35.5 per cent jump in its December quarter net profit at Rs 19.1 crore, aided by widening profit margins. The Navi Mumbai-based payments bank said its revenues grew 14.2 per cent to Rs 314.1 crore during the reporting quarter. The operating cost grew by just 2.5 per cent to Rs 61.9 crore, resulting in the widening of the operating profit margin to 12.4 per cent as against 9.4 per cent in the year-ago period. "Our growth and profitability led approach is yielding good dividends. The strategic focus on customer acquisition is working well," its managing director and chief executive Rishi Gupta said.

Fino Payments Bank ups interest rate on savings deposit to 5%

In addition to the hike in interest, the bank's customers will also get monthly interest pay-outs on their balances.

Fino Payments zooms 36% in 2 days as Capri Global buys 1.3 mn shares

On Wednesday November 23, Capri Global Holdings Private Limited bought 1.32 million shares representing 1.59 per cent of total equity of Fino Payments Bank via open market deals.

Stock of this beaten down fintech company zoomed 20% today on heavy volumes

Shares of Fino Payments Bank were locked in 20 per cent upper circuit at Rs 230.70 in Wednesday's intra-day trade

Fino Payments discussing SFB transition internally: MD & CEO Rishi Gupta

Transitioning from a business correspondent to a payments bank five years back, profit making Fino Payments Bank looks for a further upgrade to a small finance bank with internal discussions underway, bank's chief Rishi Gupta said. The bank will approach the Reserve Bank of India (RBI) for a small finance bank licence at an appropriate time, Gupta, Managing Director and Chief Executive Officer, Fino Payments Bank said. RBI guidelines stipulate that a payments bank more than five years old can apply for a licence for a small finance bank (SFB), Gupta said. "So the natural migration for Fino from a banking licence point of view will be into a small finance bank. We have started to offer credit in partnerships with other players. We are also building a large customer and merchant base, which will come handy as we decide on SFB. "Having said that, right now we are internalising it. And once we close that communication and we believe that it is the right path or approach, then we will .

Issue of opening up liabilities needs relook: Fino Payments Bank MD & CEO

Rishi Gupta, MD & CEO, Fino Payments Banks stresses for a change in regulation to allow payments banks to lend in an interaction with Manojit Saha

Fino Payments Bank holdco tweaks rule on voting day to eject bank chief

The resolution to reappoint Mahendra Kumar Chouhan and Punita Kumar-Sinha was voted down by 80% of shareholders, which included 100% of the promoter group

Fino Payments Bank promoters vote against reappointing chairman, others

The resolution to reappoint Mahendra Kumar Chouhan and Punita Sinha was voted down by 80% of shareholders of Fino Payments Bank, which included 100% of the promoter group

Fino Payments Bank receives RBI nod to offer partner bank's FD, RD services

Fino Payments Bank on Wednesday said it has received the RBI approval for commencing referral services of fixed deposit (FD) and recurring deposit (RD) on behalf of a partner bank. In its letter dated April 19, the RBI stated that Fino Bank can carry out referral services of term deposit products in the form of FD and RD as a Business Correspondent of Suryoday Small Finance Bank (SSFB). The association is the second between Fino Bank and SSFB and the first one as listed entities, the payment bank said in a statement. Earlier, Fino partnered with SSFB to offer a sweep account facility to its customers to address the Rs 1 lakh end of the day deposit limit, which was later revised to Rs 2 lakh. The FD and RD referral services will be offered to Fino Bank's over 3.9 million customers who are aspirational and need access to these products to ensure their financial needs are met, the statement said. The service is expected to go live in the second quarter of FY23.

Stocks to Watch: RBL Bank, TVS Motors, Fino Payments Bank, PNB, Telecom

3i Infotech, BEL, Dixon Tech, Kotak Bank, Karnataka Bank, Larsen & Toubro, Marico, NIIT, Naukri, Suzlon, United Breweries and Vedanta to announce results today.

Fino Payments Bank net profit rises 116% at Rs 14.1 crore in Dec quarter

Its revenues rose by 20 per cent YoY to Rs 275.16 crore in Q3Fy22

RBI gives nod to Fino Payments Bank's international money transfer service

Customers of Fino Payments Bank will be able to receive remittance money sent from overseas as it has been granted approval by RBI to offer the international money transfer service.

Fino Payments Bank eyes 30-35% long-term revenue growth: MD Rishi Gupta

Gupta said Fino is a very differentiated payments bank compared to other fintech players in the market.

Fino Payments Bank stock slips nearly 2% as anchor lock-in period ends

Shares of Fino Payments Bank entered the bourses on November 12, 2021. It was listed at Rs 548, a discount of 5.03% to the issue price of Rs 577

Fino Payments not planning to turn into small finance bank 'right now': CEO

Company is only profitable payments bank and 'lot of things need to settle down first' for it to consider seeking a licence for conversion, says Rishi Gupta

Nykaa, Paytm, Latent View: December will be a trying time for these 10 stks

From December 8, Edelweiss said there are ten issuances where the anchor lock-in is set to unravel, including FSN E-Commerce Ventures (Nykaa), FINO Payments Bank, Latent View Analytics and PB Fintech

Paytm plunges 36% from issue price; Fino Payments Bank falls for 5th day

Paytm shares were down 12% to Rs 1,370 on the BSE in the intra-day trade

Fino Payments Bank's September quarter net rises 74%, revenue up 35%

Its revenue during the reporting quarter was up by 35& YOY to Rs 242 crore from Rs 179 crore in the quarter ended September 2021

Fino Payments Bank reports 74% jump in profit for Sept quarter

Recently listed Fino Payments Bank on Saturday reported a 74 per cent jump in its net profit to Rs 7.89 crore in the quarter ended in September 2021. The bank had posted a net profit of Rs 4.52 crore in the year ago same period. Revenue of the bank grew by 35 per cent year-on-year to Rs 242.15 crore on the back of a growth of 32 per cent in transaction revenue, 43 per cent in subscription income and 35 per cent in open banking, Fino Payments Bank said in a regulatory filing. The bank completed its initial public offer (IPO) and listed its shares on November 12, 2021 on NSE and BSE. Current account and savings account (CASA) subscription revenue grew by 78.3 per cent on the year while subscription yield increased from Rs 402 per account in Q2FY21 to Rs 481 per account in Q2FY22, it said. "Our growth momentum in transaction volumes and throughput continues to be strong. Consumer behaviour towards convenience banking is gaining impetus," Rishi Gupta, CEO & Managing Director ...

Fino Payments shares drop 11% intraday on debut, before ending 6% down

Weak debut follows modest response to the firm's share sale. Its Rs 1,200-cr IPO was subscribed just two times