Fino Payments Bank reports ₹20.9cr Q2 loss despite NII rise
Business
Fino Payments Bank just reported a ₹20.9 crore loss for the second quarter of FY27, flipping from a profit of ₹15.4 crore last year.
The main reason? A big drop in other income, even though the bank managed to boost its net interest income by 20% and cut operating costs by 9%.
Fino Payments Bank gets RBI nod
After getting RBI's nod to become a small finance bank, FPB is shifting focus, growing its retail and B2B business, with loan referrals up 286% this quarter.
Deposits are up too, along with investments.
The bank says it is also strengthening leadership and upgrading tech to meet the requirements and ensure regulatory compliance and operational excellence.