Fino Payments Bank adds 2.9 lakh accounts in May, loan referrals nearly triple

Fino Payments Bank said on Monday, June 8 that it opened around 2.9 lakh new accounts in May 2026, up 29% from the corresponding month last year, according to its monthly business update.

The bank's average total deposits stood at approximately ₹2,762 crore during the month, registering a 10% year-on-year increase. The number of digitally active customers rose 19% year-on-year to around 62.6 lakh.

Loan referral disbursals reached about ₹210 crore in May, nearly 2.9 times higher than the level recorded in May 2025. The bank said it continues to focus on sourcing secured loan assets within its referral business.

In the transaction business segment, which includes remittance, Micro ATM and AePS services, the bank reported moderation in throughput. It attributed the trend to the ongoing shift from cash-based transactions to UPI and its focus on higher-quality merchants.

The bank also said it is reassessing key product features in its digital payment services business as part of a broader review of the segment. Separately, it stated that its Small Finance Bank implementation plans remain on track, supported by investments in technology, infrastructure and resources.

Earlier on May 26, the bank had informed that the Reserve Bank of India (RBI) has approved the extension of the tenure of Ketan Merchant as interim chief executive officer for a further period of three months, effective May 27, 2026.

In a seperate development, on June 1, it said that it has entered into a strategic partnership with Ezee.ai to deploy an artificial intelligence-enabled Loan Origination System (LOS), Business Rules Engine (BRE) and Collections Management Platform as part of its transition towards becoming a small finance bank (SFB).

Shares of Fino Payments Bank ended 3.98% lower at ₹127.50 on the NSE on June 8.

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