Fino Payments Bank’s net profit for the fourth quarter of the financial year 2025-26 (Q4 FY26) plummeted 70% to ₹7.1 Cr from ₹24 Cr in the year-ago quarter. On a sequential basis, the company’s profit after tax (PAT) declined 42% from ₹12.3 Cr. For the full year (FY26), the company’s profit declined 43% YoY to ₹52.5 Cr. 

While total income fell 14% YoY to ₹1,587.9 Cr in FY26, the metric stood at ₹340 Cr during the quarter (Q4), down 31% YoY and 14% QoQ. Meanwhile, the company’s total expenditure, excluding provisions and contingencies, declined 28% YoY to ₹334.6 Cr. 

The company gained ₹3 Cr in tax credit during the quarter. Minus the tax credit, its profit before tax (PBT) would have fallen 87% YoY to ₹4.1 Cr. Fino Payments Bank earns revenue primarily from three streams — retail banking, treasury and other banking operations. 

While revenue for retail banking remained flat YoY at ₹118.6 Cr, treasury increased 19% YoY to ₹64.2 Cr. However, revenue from other banking operations — the bank’s biggest revenue driver — tanked 51% YoY to ₹157.1 Cr. 

The bank was under heightened regulatory scrutiny in the last quarter of FY26. The company’s ex-CEO, Rishi Gupta, was arrested by the tax authorities in February in connection with a GST investigation into alleged online betting-linked tax evasion of over ₹840 Cr. After spending weeks in custody, Gupta was granted bail in March. 

In its disclosures today, the bank said that Gupta’s reinstatement to the CEO position is contingent on “post reassessment of his fit and proper status by the NRC and Board and a view taken by the RBI”.

The bank has approved the re-appointment of Aninda Mukherjee as its chief risk officer for a period of three years until 2029. Mukherjee currently oversees risk governance and policy framework across operational, asset and liability management & market risk for the bank. 

However, the company’s declining financial health has nothing to do with the arrest of its CEO. Notably, this is the fourth consecutive quarter in which Fino Payments Bank’s profits have been hit.

In the quarter under review, the bank’s digital payment services revenue declined 70% YoY to ₹40.5 Cr, while collections and management services revenue degraded 42% YoY to ₹20.6 Cr. 

However, the bank saw its average deposits rise 20% YoY to ₹2,535 Cr, and the number of CASA accounts grew 22% YoY to 1.75 Cr.

“Despite the headwinds in Q4 FY26, we delivered our highest-ever quarterly net-revenue margin of 40% and record CASA renewal income of ₹62.2 Cr — both clear indicators of the business momentum building into FY27,” interim CFO Anup Agarwal said.

Shares of Fino ended today’s session 0.3% higher at ₹134.4.

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