Fino Payments Bank continued to witness strong customer acquisition momentum in May 2026, opening 2.9 lakh new accounts during the month, a 29% year-on-year increase, as the lender advances its transition towards becoming a Small Finance Bank (SFB).
The growth reflects the bank’s expanding reach, rising customer engagement and continued focus on building a broader banking franchise.
Customer base expands
The bank said average total deposits stood at ₹2,762 crore in May, registering a 10% year-on-year increase and highlighting sustained strength in deposit mobilisation.
Digital adoption also continued to gain traction, with the number of digitally active customers rising 19% year-on-year to 62.6 lakh.
The lender has been focusing on customer acquisition through both its extensive merchant network and the FinoPay mobile application, while also working to deepen engagement among existing customers.
Loan referral business accelerates
Fino Payments Bank reported significant growth in its loan referral business, with loan disbursals reaching ₹210 crore during May. The figure represents a 2.9-fold increase compared with the corresponding month last year.
The bank said its focus remains on sourcing secured loan assets through its referral business, a strategy that aligns with its long-term objective of building a differentiated small finance bank model.
SFB transition progresses
As part of its SFB implementation roadmap, the bank has entered into a strategic partnership with Ezee.ai to build a lending ecosystem.
The initiative will be supported by a Finacle-based core banking and lending management platform, strengthening the technology backbone required for the proposed transition.
Apart from technology investments, the bank is also enhancing its merchant network and augmenting resources to support future growth.
Focus on scalable growth
Fino Payments Bank said its SFB implementation journey remains on track, supported by investments in technology, infrastructure and organisational capabilities.
Going forward, the lender will continue to focus on ownership business, deposit mobilisation, customer acquisition and customer experience enhancement while building a scalable banking franchise.
The bank said its growth strategy will continue to be anchored on its pan-India distribution network, technology-led customer engagement, disciplined risk management and strong governance practices as it progresses towards the next phase of its banking journey.