Private lender Fino Payments Bank shares surged 14% to ₹180.75 on July 17, marking a potential weekly gain of 39% - the biggest weekly rally in nearly five years. According to Live Mint, the stock has rebounded 64% from its all-time low of ₹110 and is on track for its biggest weekly gain in more than five years. Despite this sharp recovery, the stock remains down 34% so far this year, following a prolonged selloff that had dragged the stock to its all-time low. The stock had witnessed a cumulative 63% decline over the four-month period between December 2025 and March 2026.
The company reported robust performance in June 2026, with new accounts opened rising 31% year-on-year (YoY) to 3.13 lakh. As reported by Live Mint, the bank's average total deposits rose 11% YoY to ₹2,755 crore, reflecting sustained growth in its deposit franchise and signalling steady progress in its transition towards a more comprehensive banking model. During the month, the bank opened around 3.1 lakh new accounts, taking its total customer base to 1.8 crore. Digital engagement also strengthened significantly, with monthly active users on the FinoPay mobile application rising 38% to around 8.4 lakh. The bank's loan referral disbursals surged 3.5 times YoY to ₹240 crore, highlighting the strong credit potential within its customer ecosystem and supporting its long-term lending strategy.
However, some business metrics remained under pressure, with transaction business throughput declining 35% YoY to ₹2,830 crore. According to Live Mint, the bank attributed this decline to the continued shift in the payments ecosystem from cash to UPI, along with its focus on higher-quality, more active merchants. The bank added that the pace of decline has moderated compared with previous months. Transaction throughput includes remittance, micro-ATM, and AePS transactions, which have been impacted by the ongoing digital transformation in the payments sector.
Separately, Fino Payments Bank recently entered into a strategic partnership with Ezee.ai. According to NDTV Profit, under the collaboration, the bank will deploy Ezee.ai's AI-enabled Loan Origination System and Collections Management Platform. The partnership is aimed at helping the bank build its lending ecosystem for a seamless transition to a small finance bank (SFB).
In the March quarter (Q4FY26), the bank reported a 70.4% YoY decline in net profit to ₹7.1 crore, compared with ₹24 crore in the same quarter of the previous year. As reported by Live Mint, the bank had ended the previous calendar year with a 17% decline and is still trading 67% below its record high of ₹582 per share. The stock had also suffered a similar correction between September 2024 and February 2025, demonstrating the volatility in the fintech sector.
