The board of Fino Payments Bank has approved the transition into a Small Finance Bank (SFB) subject to necessary approvals.
We intend to supplement payments bank business with lending to known customers through enhancement of license. Our opportunity to grow by transiting to SFB is significant on the back of optimal leveraging of our widespread network to cater the unmet credit demand of our merchants and customers, MD and CEO Rishi Gupta said.
Finos core business activity will continue to be that of a banking service provider to the existing target segment with credit as an additional service offering, he added.
The bank posted its highest ever quarterly revenue of 348 crore in Q1 FY24 up 21 per cent y-o-y, led by the focus on custome…
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