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Fino Payments Bank Q4 FY26: PAT Drops 70% YoY to ₹7.1 Cr; SFB Transition on Track
Fino Payments Bank reported a challenging Q4 FY26 with PAT declining 70% YoY to ₹7.1 Cr and annual PAT falling 43% to ₹52.5 Cr. Despite the earnings dip, the bank achieved a critical milestone by receiving in-principle approval from the RBI to transition into a Small Finance Bank (SFB). Operational metrics remain robust, with average deposits growing 30% YoY to ₹2,403 Cr and referral loan disbursals surging 3.5x to ₹1,285 Cr for the full year. The bank has successfully migrated to the Finacle core banking platform and targets SFB operationalization by late 2026.
Key Highlights
FY26 PAT decreased by 43% YoY to ₹52.5 Cr, while Q4 FY26 PAT fell 70% YoY to ₹7.1 Cr.
Average deposits for FY26 grew 30% YoY to ₹2,403 Cr, with peak deposits reaching ₹2,957 Cr in March 2026.
Referral loan disbursals reached ₹1,285 Cr in FY26, a 3.5x increase YoY, reinforcing credit demand preparedness.
Received RBI's in-principle approval for SFB conversion and completed migration to Finacle CBS in Jan 2026.
Net Revenue Margin improved to 40.0% in Q4 FY26, up from 31.5% in the same quarter last year.
👀 What to Watch
Investors should weigh the short-term decline in profitability against the long-term value unlock of the Small Finance Bank transition. Monitor the execution of the SFB roadmap and the bank's ability to maintain its low cost of funds (1.4% in Q4) as it shifts toward a lending model.
Fino Payments Bank FY26 Revenue Falls 14% to ₹1,588 Cr; Q4 Net Margins Hit Record 40%
Fino Payments Bank reported a 14% YoY decline in FY26 revenue to ₹1,587.9 crore, though net revenue remained stable at ₹584.4 crore. Despite operational headwinds and legal issues involving leadership, the bank achieved its highest-ever quarterly net-revenue margin of 40% in Q4 FY26. Customer deposits reached a record high of ₹2,957 crore, and CASA renewal income grew 12% YoY to ₹62.2 crore. The bank is currently transitioning into a Small Finance Bank (SFB) following RBI's in-principle approval.
Key Highlights
FY26 revenue declined 14% YoY to ₹1,587.9 crore, while net revenue stayed flat at ₹584.4 crore.
Q4 FY26 net-revenue margin reached a record 40% as CASA segment contribution rose to 45%.
Total deposits hit an all-time high of ₹2,957 crore in March 2026, reflecting strong customer trust.
Referral lending business saw significant momentum with ₹1,285 crore disbursed during FY26.
Completed Core Banking Solution (CBS) migration in Q4 FY26 to support future SFB operations.
👀 What to Watch
Investors should monitor the progress of the SFB license conversion and the resolution of legal matters involving former leadership. While improving margins and deposit growth are positive, the decline in top-line revenue and throughput warrants a cautious approach.
Fino Payments Bank FY26 Net Profit Drops 43% to ₹52.46 Cr; Q4 Profit Declines Sharply
Fino Payments Bank reported a significant decline in financial performance for FY26, with net profit falling 43.3% YoY to ₹52.46 crore. Total income for the full year decreased by 14% to ₹1,587.93 crore, primarily driven by a slowdown in 'Other Banking Operations'. The Q4 performance was particularly weak, with net profit at ₹7.10 crore compared to ₹24.00 crore in the year-ago period. However, the bank maintained a strong balance sheet with deposits growing 22.7% YoY to ₹2,379.49 crore and a robust Capital Adequacy Ratio of 83.95%.
Key Highlights
FY26 Net Profit fell to ₹52.46 crore from ₹92.53 crore in FY25, a 43.3% decrease.
Total Income for FY26 declined to ₹1,587.93 crore compared to ₹1,847.10 crore in the previous year.
Deposits grew by 22.7% YoY, reaching ₹2,379.49 crore as of March 31, 2026.
Recognized a one-time exceptional expense of ₹4.39 crore due to the impact of new Labour Codes.
Capital Adequacy Ratio remains high at 83.95%, indicating significant capital buffers.
👀 What to Watch
Investors should exercise caution as the bank faces significant revenue and margin pressure across its core transaction-led segments. Monitor management's guidance on the path to recovery and any updates regarding their transition to a Small Finance Bank license.
Fino Payments Bank Migrates to Finacle CBS with ₹200 Cr Investment for SFB Transition
Fino Payments Bank has successfully migrated its Core Banking System (CBS) to Finacle, investing approximately ₹200 crore to support its transition to a Small Finance Bank (SFB). The bank received in-principle approval from the RBI for SFB conversion in December 2025 and this tech upgrade is a critical milestone for that roadmap. While the migration led to a temporary moderation in business volumes during Q4 FY26, the new modular architecture is designed to handle higher transaction throughput and faster product launches. The bank processed ₹3.6 lakh crore in transactions during 9M’26, reflecting an 8% YoY growth prior to the migration phase.
Key Highlights
Invested ~₹200 crore in a scalable, modular Finacle Core Banking System to enable SFB operations.
Successfully completed migration within anticipated timelines despite a temporary volume dip in Q4 FY26.
Processed ₹3.6 lakh crore in transactions in 9M’26, with 55% digital throughput.
New architecture supports 'Hollow the Core' initiative to offload high-frequency transactions and reduce failure rates.
The Finacle license will extend to the upcoming Loan Management System (LMS) for future lending operations.
👀 What to Watch
Investors should look past the temporary Q4 volume moderation as a necessary trade-off for long-term scalability and SFB readiness. Monitor the bank's ability to scale its lending business and recover transaction growth in the upcoming quarters.
Fino Payments Bank MD & CEO Rishi Gupta Unavailable for Over 45 Days Amid Regulatory Re-assessment
Fino Payments Bank has informed that its MD & CEO, Mr. Rishi Gupta, has been unavailable for more than 45 days in a rolling 90-day period due to a pending re-assessment of his 'fit and proper' status. The bank is awaiting a final view from the Reserve Bank of India (RBI) and its own Board of Directors regarding his resumption of office. An Interim CEO has been appointed with RBI approval to manage operations, which the bank claims remain stable. Despite this leadership uncertainty, the bank reported its highest-ever deposit balance in March 2026 and strong momentum in its referral lending business.
Key Highlights
MD & CEO Rishi Gupta unavailable for >45 days in a 90-day rolling period due to 'fit and proper' status re-assessment.
Interim CEO appointed with RBI approval to ensure uninterrupted business operations.
Bank recorded its highest-ever deposit balance during the month of March 2026.
Strong growth momentum reported in the referral lending business segment.
Final decision on CEO's return depends on NRC, Board, and RBI's regulatory view.
👀 What to Watch
Investors should closely monitor the RBI's final decision on the CEO's 'fit and proper' status as it impacts long-term leadership stability. While operational metrics like record deposits are encouraging, regulatory hurdles for top management warrant a cautious approach.
Fino Payments Bank Shareholders Approve CEO Remuneration; Re-appointment Resolution Withdrawn
Fino Payments Bank shareholders have approved the remuneration for MD & CEO Rishi Gupta for FY 2024-25 with a 99.65% majority through a postal ballot. Notably, the resolution for Mr. Gupta's re-appointment was withdrawn by the Board via an addendum issued on March 26, 2026, shortly before the voting concluded. While promoters and institutions voted 100% in favor of the remuneration, participating retail investors showed significant dissent, with 90.22% of their polled votes against the proposal. The withdrawal of the re-appointment resolution suggests a potential shift in top leadership or corporate strategy.
Key Highlights
Special resolution for MD & CEO Rishi Gupta's FY 2024-25 remuneration passed with 99.65% total votes in favor.
Resolution No. 2 regarding the re-appointment of Mr. Rishi Gupta was withdrawn by the Board on March 26, 2026.
Promoter and Institutional groups cast 100% of their votes in favor of the remuneration resolution.
Public Non-Institutional (retail) voters showed 90.22% dissent on the remuneration resolution, though their total voting weight was low.
Total valid votes cast amounted to 2,18,40,845 shares, representing approximately 26.45% of the total paid-up capital.
👀 What to Watch
Investors should closely monitor upcoming disclosures regarding the MD & CEO's tenure and potential leadership succession plans following the withdrawal of the re-appointment resolution. Any change at the helm of a digital-first bank like Fino could impact its execution strategy and growth trajectory.
Fino Payments Bank Withdraws MD Rishi Gupta's Re-appointment Proposal Amid Legal Issues
Fino Payments Bank has withdrawn a postal ballot resolution for the re-appointment of MD & CEO Rishi Gupta for a three-year term (2026-2029). This decision follows the MD's recent arrest and the dismissal of a writ petition by the Telangana High Court, although he was granted bail on March 26, 2026. While the bank maintains that the investigation involves third-party program managers and not the bank's GST compliance, the board is re-assessing his 'fit and proper' status. A separate resolution for his FY 2024-25 remuneration of ₹5.70 crore remains active for shareholder voting.
Key Highlights
Withdrawal of agenda for re-appointment of Rishi Gupta as MD & CEO for 3 years starting May 2, 2026.
MD Rishi Gupta was granted bail on March 26, 2026, following legal proceedings in Hyderabad.
Resolution for FY 2024-25 total remuneration of ₹5.70 crore (including ₹3.26 crore variable pay) remains unchanged.
Board to re-assess 'fit and proper' status of the MD before seeking future regulatory and shareholder approvals.
Bank operations reported as stable and uninterrupted despite the ongoing legal investigation.
👀 What to Watch
Investors should remain cautious as leadership uncertainty and legal investigations into top management often lead to regulatory scrutiny. Monitor the RBI's eventual stance on the MD's 'fit and proper' status as it will be critical for the bank's long-term governance.
Fino Payments Bank Withdraws MD & CEO Rishi Gupta's Re-appointment Amid Legal Investigation
Fino Payments Bank has withdrawn the postal ballot resolution for the re-appointment of Mr. Rishi Gupta as MD & CEO for a three-year term (2026-2029). This follows his recent arrest and subsequent bail in an investigation involving program managers, which the bank clarifies is not related to its own GST compliance. The Board will reassess his 'fit and proper' status and consult with the RBI before re-submitting the proposal at an appropriate time. While the remuneration resolution for FY 2024-25 remains active, the leadership transition is now under significant uncertainty.
Key Highlights
Withdrawal of agenda for re-appointment of Rishi Gupta as MD & CEO for a 3-year term starting May 2, 2026
Decision follows MD & CEO's arrest and subsequent bail by the Special Judge for Economic Offences
Bank to conduct a 'fit and proper' reassessment and seek RBI views before any future re-appointment
Resolution for payment of remuneration for FY 2024-25 remains active and will proceed for voting
Bank maintains that operations remain stable and the investigation does not relate to its GST compliance
👀 What to Watch
Investors should remain cautious due to leadership uncertainty and potential regulatory hurdles from the RBI regarding the CEO's 'fit and proper' status. Monitor further legal developments and the bank's communication regarding a permanent leadership plan.
Fino Payments Bank MD & CEO Rishi Gupta Granted Bail in Economic Offences Case
The Hon’ble Special Judge for Economic Offences, Hyderabad, has granted bail to Mr. Rishi Gupta, MD & CEO of Fino Payments Bank, on March 26, 2026. This legal update follows earlier disclosures regarding an investigation into program managers associated with multiple banks, which the bank clarifies is not related to its own GST compliance. Despite the legal proceedings, the bank reports that its operations remain stable and uninterrupted. Management highlighted that the core business continues to see healthy momentum in deposits and referral assets.
Key Highlights
MD & CEO Rishi Gupta granted bail on March 26, 2026, by the Special Judge for Economic Offences.
Investigation involves program managers associated with multiple banks and is not related to the bank's GST compliance.
Bank reports sustained increase in deposits and growth in referral assets despite the ongoing matter.
Management maintains that operations remain stable, uninterrupted, and in compliance with governance practices.
👀 What to Watch
Investors should remain cautious and monitor the final outcome of the investigation involving the MD & CEO, as legal issues at the top management level can impact sentiment. However, the bail and reported business stability provide some short-term relief.
Fino Payments Bank MD & CEO Rishi Gupta Granted Bail in Economic Offences Case
Fino Payments Bank's MD & CEO, Rishi Gupta, was granted bail by the Special Judge for Economic Offences on March 26, 2026. The ongoing investigation relates to program managers associated with multiple banks and is not linked to the bank's GST compliance. Despite the legal proceedings, the bank reports that its operations remain stable and uninterrupted. Management highlighted sustained growth in deposits and referral assets, indicating that core business momentum remains healthy.
Key Highlights
MD & CEO Rishi Gupta granted bail by the Hon’ble Special Judge for Economic Offences on March 26, 2026.
Investigation pertains to program managers across multiple banks, not the bank's own GST compliance.
Bank reports healthy business momentum with sustained increase in deposits and referral assets.
Management confirms that operations remain stable and the bank continues to cooperate with authorities.
👀 What to Watch
Investors should monitor the progression of the legal case as it involves the MD & CEO, though the bail provides immediate relief. Focus on whether the investigation leads to any regulatory restrictions or impacts the bank's growth trajectory.
Fino Payments Bank Q4 Referral Loan Disbursements Surge to ₹540 Cr; FY26 Target ₹1,300 Cr
Fino Payments Bank reported a sharp acceleration in its referral lending business, with Q4 FY26 disbursements reaching ₹540 crores as of March 20. The bank is on track to record approximately ₹1,300 crores in total disbursements for FY26, nearly doubling the ₹700 crores achieved in the first nine months. This growth is a strategic precursor to its transition into a Small Finance Bank (SFB), leveraging its 20 lakh merchant points to source secured loans for NBFC partners. The bank also reported reaching its highest-ever deposit balance during the current month.
Key Highlights
Q4 FY26 referral loan disbursements reached ~₹540 crores as of March 20, 2026.
Full-year FY26 disbursements projected to reach ~₹1,300 crores, a significant jump from ₹700 crores in 9M FY26.
Q4 performance is expected to close at 90% of the total volume seen in the first three quarters combined.
The bank utilizes a massive network of 20 lakh merchant points and 1.7 crore CASA customers for credit sourcing.
Strategic focus remains on secured products like Home Loans, Gold Loans, and LAP in partnership with NBFCs.
👀 What to Watch
Investors should monitor the scaling of this asset-light referral model as it builds the credit assessment track record necessary for its upcoming SFB conversion. The strong growth in disbursements and record deposit levels indicate high customer trust and readiness for full-scale banking operations.
Telangana HC Dismisses Writ Petition of Fino Bank MD Rishi Gupta; Deposits Hit Rs 2,900 Cr
The Telangana High Court has dismissed a writ petition filed by Fino Payments Bank's MD & CEO, Rishi Gupta, challenging his arrest in an investigation involving third-party program managers. While the bank clarifies the probe is not related to its own GST compliance, the legal setback for top leadership remains a significant concern for corporate governance. To reassure stakeholders, the bank highlighted reaching its highest-ever deposit balance of Rs. 2,900 Crores in March 2026. A bail application is currently pending before the Special Judge for Economic Offences in Hyderabad.
Key Highlights
Telangana High Court dismissed MD & CEO Rishi Gupta's writ petition challenging his arrest on March 23, 2026.
Investigation involves program managers associated with multiple banks and is reportedly unrelated to Fino's GST compliance.
Bank recorded its highest-ever deposit balance of Rs. 2,900 Crores during March 2026, indicating operational stability.
Bail application for the MD & CEO has been filed before the Special Judge for Economic Offences, Hyderabad.
The bank maintains that business operations remain uninterrupted and it is pursuing further legal recourse.
👀 What to Watch
Investors should remain cautious as the arrest and legal setbacks of the MD & CEO pose significant management and reputational risks. Monitor the upcoming bail hearing and any potential regulatory commentary from the RBI closely.
Fino Payments Bank Refutes Media Reports of PMLA Probe; Clarifies DGGI Investigation Scope
Fino Payments Bank has issued a formal clarification denying media reports that suggest an expansion of investigations into PMLA or Enforcement Directorate (ED) probes. The bank confirmed that the only ongoing investigation is by the DGGI Hyderabad, which pertains to specific program managers and merchants rather than the bank's own GST compliance. Furthermore, the bank refuted claims of bail rejection and reiterated that it has no involvement in gaming or betting activities. This follows a series of disclosures starting from February 27, 2026, regarding the same matter.
Key Highlights
Denied any investigation by the Enforcement Directorate (ED) or under PMLA, calling such reports speculative.
Clarified that the DGGI Hyderabad probe involves program managers and merchants across multiple banks, not Fino's internal GST compliance.
Refuted media claims regarding the rejection of bail by the court as an incorrect reference.
Reaffirmed zero direct or indirect involvement in gaming or betting activities through any platform or channel.
👀 What to Watch
Investors should monitor the final outcome of the DGGI investigation for any potential impact on the bank's merchant network operations. While the denial of an ED probe is positive, the sub-judice nature of the case warrants a cautious approach.
Fino Payments Bank Hits Record Rs 2,900 Cr Deposits; Opens 1.5 Lakh Accounts in Two Weeks
Fino Payments Bank has achieved a significant milestone with its total deposit balance reaching an all-time high of approximately Rs 2,900 crores as of March 13, 2026. The bank witnessed a rapid 9% growth in deposits over a two-week period, alongside the addition of 1.5 lakh new banking accounts. This surge reflects a high daily average of nearly 10,000 new accounts since late February 2026. The growth is attributed to the bank's new core banking platform and its successful merchant-led phygital model targeting the underserved 'Bharat' segment.
Key Highlights
Total deposit balance reached a record high of ~Rs 2,900 crores as of March 13, 2026.
Deposits grew by nearly 9% in just two weeks starting from late February 2026.
Added ~1.5 lakh new banking accounts since February 27, 2026, averaging 10,000 accounts per day.
Growth supported by the implementation of a new technology-enabled core banking platform.
Strong traction in the merchant-led phygital model across underserved and rural communities.
👀 What to Watch
Investors should view this rapid customer acquisition and deposit growth as a positive indicator of market share expansion in the payments bank space. Monitor the upcoming quarterly results to see how this increased deposit base impacts net interest margins and cross-selling revenue.
ICRA Places Fino Payments Bank Ratings on Watch Following MD & CEO Arrest
ICRA has placed Fino Payments Bank's ratings of [ICRA]BBB+ and [ICRA]A2+ on 'Watch with Developing Implications'. This rating action follows the arrest of the bank's Managing Director & CEO, Mr. Rishi Gupta, which was initially disclosed on February 27, 2026. The watch applies to fund-based overdraft facilities totaling Rs. 294.54 crore. While the ratings remain unchanged for now, the developing implications status reflects uncertainty regarding management stability and potential operational impacts.
Key Highlights
ICRA places [ICRA]BBB+ and [ICRA]A2+ ratings on 'Watch with Developing Implications'
The rating action affects a total fund-based overdraft limit of Rs. 294.54 crore
Triggered by the arrest of MD & CEO Mr. Rishi Gupta as reported in late February 2026
Major bank limits include Rs. 80 crore with ICICI Bank and Rs. 73.44 crore with State Bank of India
Mr. Ketan Merchant has been identified as the Interim CEO to oversee current operations
👀 What to Watch
Investors should exercise caution and closely monitor further updates regarding the legal proceedings of the former CEO and the bank's management transition. The 'Watch' status indicates a potential for future rating volatility which could impact the bank's cost of funds and institutional reputation.
Fino Payments Bank Appoints Ketan Merchant as Interim CEO Following RBI Approval
The Reserve Bank of India (RBI) has approved the appointment of Mr. Ketan Merchant as the Interim CEO of Fino Payments Bank, effective February 27, 2026. This interim arrangement is slated for a duration of three months or until the permanent CEO, Mr. Rishi Gupta, resumes office. The return of the permanent CEO is contingent upon a 'fit and proper' status reassessment by the bank's NRC and Board, followed by RBI's final view. This development indicates a temporary leadership transition while regulatory compliance matters are addressed.
Key Highlights
RBI approved Ketan Merchant as Interim CEO effective from February 27, 2026.
The interim appointment is valid for a maximum period of three months.
Regular CEO Rishi Gupta's return is subject to a 'fit and proper' status reassessment.
The reassessment process involves the NRC, the Board, and subsequent RBI approval.
👀 What to Watch
Investors should monitor the outcome of the 'fit and proper' reassessment for the permanent CEO, as leadership stability is crucial for the bank's strategic execution.
Fino Payments Bank Appoints Ketan Merchant as Interim CEO and Anup Agarwal as Interim CFO
Fino Payments Bank has announced a leadership transition, appointing current CFO Ketan Merchant as Interim CEO for a period not exceeding 4 months, pending RBI approval. To fill the vacancy, Anup Agarwal, who has 20 years of experience in finance, has been appointed as the Interim CFO effective March 06, 2026. Additionally, the board has authorized the appointment of a special consultant to conduct a review of GST compliances. These interim appointments are intended to maintain leadership continuity while the bank pursues its Fino 2.0 growth strategy.
Key Highlights
Mr. Ketan Merchant, with 27+ years of banking experience, appointed as Interim CEO for up to 4 months.
Mr. Anup Agarwal, with 20 years of experience, appointed as Interim CFO effective March 06, 2026.
Board approved a special consultant to conduct a review of GST compliances and other specific aspects.
Interim CEO appointment is subject to final approval from the Reserve Bank of India (RBI).
👀 What to Watch
Investors should monitor the bank's progress in appointing a permanent MD&CEO and watch for any material findings from the special GST compliance review. The interim leadership suggests a transition phase that requires close observation of operational stability.
Fino Payments Bank CEO Detained in GST Probe; Bank Reports Stable ₹2,250 Cr Customer Balances
Fino Payments Bank addressed the detention of its MD & CEO, Rishi Gupta, by the DGGI Hyderabad regarding alleged GST evasion by third-party program managers. The bank clarified it has no operational role in these partner entities and expects no financial liability from the investigation. Despite the leadership crisis, the bank reports stable operations with customer balances at ₹2,250 crores and daily transaction throughput of ₹1,300 crores. Management confirmed that the 18-month timeline for Small Finance Bank (SFB) conversion remains currently unaffected.
Key Highlights
MD & CEO Rishi Gupta named in DGGI investigation involving GST evasion by program managers in the gaming sector.
Bank maintains stable liquidity with customer balances of approximately ₹2,250 crores as of late February 2026.
Operational metrics remain steady with daily throughput of ₹1,300 crores and ~10,000 new CASA accounts opened daily.
Management asserts the bank has no legal obligation to monitor the GST compliance of its third-party program managers.
Interim management committee formed to oversee operations; SFB conversion plans continue as per the December 5 regulatory timeline.
👀 What to Watch
Investors should exercise caution as the arrest of a CEO presents significant governance and reputational risks. While operational data remains stable, the primary focus should be on the RBI's stance regarding 'fit and proper' criteria for the bank's leadership and SFB license.
Fino Payments Bank Clarifies on GST Probe and 18-Month SFB Conversion Timeline
Fino Payments Bank has addressed media speculations regarding an investigation by the Director General of GST Intelligence, asserting that it has no association with shell companies and follows strict KYC norms. The bank confirmed that the RBI has granted an 18-month timeline for its conversion into a Small Finance Bank (SFB), a process it expects to complete ahead of schedule. Management maintains that there is no expected financial liability from the ongoing GST matter and that business operations remain unaffected. The bank also denied allegations of issuing fake invoices, stating all transactions are based on actual services.
Key Highlights
RBI has provided an 18-month timeline for the bank's conversion into a Small Finance Bank.
Bank expects to complete the SFB conversion process before the stipulated 18-month deadline.
Investigation is currently limited to the Director General of GST Intelligence with no other probes.
Management denies any association with shell companies or merchants registered outside India.
No financial liability is foreseen at this point, and business operations continue as usual.
👀 What to Watch
Investors should monitor the outcome of the GST investigation while tracking the bank's progress toward the Small Finance Bank conversion. The 18-month timeline for SFB status is a key valuation driver to watch.
Fino Payments Bank Clarifies GST Investigation; No Direct Liability Expected
Fino Payments Bank has clarified that the GST investigation by the Director General of GST Intelligence is focused on third-party program managers and not the Bank's own compliance. The Bank stated it has not evaded any GST dues, has no involvement in betting activities, and expects no financial liability from the matter. Importantly, the Bank reaffirmed its 18-month timeline for Small Finance Bank (SFB) conversion, expecting to complete it ahead of schedule. Operations remain normal as the Bank continues to cooperate with authorities regarding the program managers in question.
Key Highlights
Investigation targets program managers sourcing merchants for UPI transactions, not the Bank itself.
Bank expects zero financial liability and confirms full compliance with all GST regulations on revenue.
Reaffirmed 18-month timeline for conversion into a Small Finance Bank (SFB) as per RBI guidelines.
Clarified that funds are settled to external bank accounts as Fino does not hold current accounts for these entities.
Denied any involvement in betting platforms or the issuance of alleged fake invoices.
👀 What to Watch
Investors should monitor for any further regulatory updates to ensure the investigation does not expand to the Bank's internal controls. The successful transition to a Small Finance Bank remains the key catalyst for the stock.
