Fino Payments Bank has shared its operational performance for June, highlighting a notable 11% increase in total deposits, which reached ₹2,755 crore. During the same period, the bank successfully onboarded over 300,000 new account holders, signaling continued trust in its retail banking footprint.
A standout performer in the bank’s quarterly update was its loan referral division. The segment experienced a massive surge, growing 3.5 times to reach a value of ₹240 crore. This shift underscores the institution's success in leveraging its merchant network to facilitate credit access for its customer base.
Conversely, the bank observed a 35% contraction in total transaction throughput. Industry analysts attribute this decline to the broader market migration toward Unified Payments Interface (UPI) systems, which has fundamentally changed how retail users process daily payments.
Despite the cooling of traditional transaction volumes, Fino's strategic move into fee-based credit referrals appears to be compensating for the transition. The bank remains focused on optimizing its digital infrastructure to remain competitive in India’s rapidly evolving fintech ecosystem.
