1. Opening Hook
After RBI’s recent mood swings and fintech purges, Fino Payments Bank somehow managed to emerge with fewer bruises — and even fatter margins. Imagine surviving a flood by selling life jackets while rowing toward a Small Finance Bank license. The CEO sounded part monk, part startup hustler, promising that “discipline and trust” would pay off.
As the Bhagavad Gita reminds us: “Perform your duty with discipline, without attachment to the fruits of action.”
Keep reading — the interesting part begins when margins meet regulation and ambition meets RBI paperwork.
2. At a Glance
- Revenue down 12% YoY – Topline shrunk faster than optimism in the remittance segment.
- EBITDA up 8% YoY – Margins worked out while revenues went on vacation.
- EBITDA Margin 15.4% – Highest ever; clearly, frugality is the new fintech feature.
- PAT down 27% YoY – Profit met higher tax and depreciation, didn’t survive.
- CASA deposits up 36% YoY – Trust still deposits itself, literally.
- Cost of Funds at 1.9% – Bankers dream of this; Fino actually lives it.
- Stockholders’ mood: “We’ll wait for that SFB license, maybe with a prayer candle.”
3. Management’s Key Commentary
“We focused on stabilizing our core business and maintaining profitability in an evolving ecosystem.”
(Translation: We didn’t grow, but at least we didn’t die trying.) 😏
“CASA continues to be the cornerstone of our profitability story.”
(A polite way of saying UPI gives fame, CASA gives food.)
“Our cost of fund at 1.9% remains one of the lowest in the industry.”
(Even savings accounts envy those margins.)
“We are in the final stages of approval for our SFB license.”
(The entire management team now refreshes the RBI inbox hourly.)
“Revenue softened due to calibrated actions and regulatory reforms.”
(That’s CFO code for ‘RBI said no.’)
“We’re testing secured lending in 5
