Fino Payments Bank Limited
FINOPB.NS
National Stock Exchange of India134.65
INR
+3.40
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Fino Payments Bank Limited
FINOPB.NS
(National Stock Exchange of India)
Recent
price
134.65
P/E
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Fino Payments Bank Limited is a digital-first fintech company primarily engaged in providing a wide range of financial products and services with a payments focus across India. Its core offerings include savings, current, and salary accounts; issuance of debit cards and prepaid cards; personal, home, property, and gold loans; referral loans; domestic remittances; cash withdrawals and deposits via micro-ATM and Aadhaar Enabled Payment System (AePS); fixed deposits and sweep account facilities; and insurance products including life, health, general, motor, and shopkeeper insurance. The bank also provides business correspondent (BC) services for other banks and offers third-party financial products distribution. Operating an extensive merchant and branchless banking network, Fino Payments Bank serves predominantly rural, underserved, and unserved customer segments across nearly all Indian pin codes. Founded in 2017 and headquartered in Juinagar, Navi Mumbai, it is a subsidiary of Fino PayTech Limited. Recent major developments include the bank's board approval and ongoing preparations to transition from a payments bank to a small finance bank (SFB), with an application for the SFB license to be submitted imminently to the Reserve Bank of India (RBI). This strategic shift aims to expand its lending capabilities beyond the limits imposed on payments banks, focusing initially on small-ticket loans and working capital loans for merchants while planning future secured loans such as housing and vehicle loans. The bank has also expanded its credit disbursement business through lending partnerships and increased its merchant network and customer base significantly. Additionally, Fino Payments Bank has entered partnerships with fintech companies and Protean for expanding PAN card issuance services digitally as part of its efforts to enhance digital financial inclusion. It reported robust financial growth in recent quarters, highlighted by a 25% year-over-year net profit increase and substantial growth in total deposits and revenues, reflecting successful scaling of its fee and commission-based revenue model. Fino Payments Bank operates mainly within the Indian financial services sector, targeting rural and underserved markets with its asset-light, digitally-enabled business model. The company benefits from the technological and operational support of its parent, Fino PayTech Limited, founded in 2006, which also holds stakes in related subsidiaries. Its network coverage, innovative product suite, and strategic moves towards an SFB license position it for broader financial services offerings and enhanced banking status in the near future. This description reflects Fino Payments Bank Limited's extensive digital payment services, strategic evolution toward a small finance banking model, ongoing partnerships, and financial performance as of late 2025.