Fino Payments Bank reported a mixed operational update for September 2026. While the company saw a massive 223% jump in loan referral disbursals and steady growth in deposits and cash management services, it faced a 17% decline in new account openings and a 10% drop in transaction throughput compared to the previous year.
Fino Payments Bank September 2026 Operational Performance Report
Loan Referral Disbursals reached ₹278 crore (up 223% YoY); New Account Openings stood at 2,44,763 (down 17% YoY).
Reader Takeaway: Strong growth in loan referrals and deposits offsets pressure from declining new account acquisitions and transaction throughput.
What just happened
Fino Payments Bank has released its provisional, unaudited performance data for September 2026. The report highlights a strategic push into higher-margin segments like loan referrals and cash management services, alongside challenges in core customer acquisition and transaction volumes.
Why this matters
Investors are observing a shift in the bank's business mix. The triple-digit growth in loan referrals signals successful diversification of revenue streams. However, the 17% decline in new accounts suggests potential headwinds in the bank's traditional customer onboarding engine, which has historically been a key metric for Fino's reach in the semi-urban and rural markets.
Growth Segments
- Loan Referrals: This remains the standout performer, growing from ₹86 crore in September 2025 to ₹278 crore this September.
- Deposits & CASA: Average total deposits rose 13% to ₹2,794 crore, supported by an expanding CASA base of 1.91 crore.
- Cash Management: CMS throughput showed steady resilience, increasing 10% to ₹6,918 crore.
- Digital Engagement: The bank reported growth in active digital users, with Digitally Active Customers up 13% to 64.9 lakh and FinoPay users rising 12% to 8.1 lakh.
Areas of Decline
- Customer Acquisition: New accounts dropped by 17% to 2,44,763 compared to the same period last year.
- Transaction Business: Throughput in the transaction business segment fell 10% to ₹3,469 crore.
What to track next
Investors should monitor whether the bank can stabilize its new account acquisition numbers in the coming quarters and if the aggressive growth in loan referrals continues to drive bottom-line improvement without increasing risk profiles.