Inside Fino Payments Bank’s Troubles And Transition To A Small Finance Bank

by · Inc42

SUMMARY

  • Fino's net profit fell 43% YoY in FY26 and 70% in Q4, however, the downturn had already been building for multiple quarters before the CEO crisis
  • RBI’s remittance clampdown hurt money transfer, NBFC/MFI stress dragged CMS revenues, and a pullback from digital payments further shrank the growth
  • The CEO arrest accelerated scrutiny and led to shutting UPI merchant business, tighter onboarding