The bank stated that it is witnessing strong momentum in its referral lending business through own merchant channel.

As of March 20, 2026, Q4 FY26 referral loan disbursements have already reached Rs 540 crore and are expected to close at Rs 630 crore, which would be nearly 90% of the cumulative disbursements of the first three quarters of Rs 700 crore.

The payments bank said that this growth was driven by increasing rural credit demand and scaling partnerships with NBFCs, leveraging the bank’s merchant-led distribution model.

The current portfolio is focused on secured lending products, including home loans, gold loans, loan against property, and merchant business loans.

This initiative forms part of the bank’s strategic transition toward becoming a ‘small finance bank’, with a focus on building credit distribution capabilities while maintaining an asset-light model.

The bank continues to use its merchant network to originate loans, while partner NBFCs underwrite and carry the credit risk.

Fino Payments Bank, a subsidiary of Fino Paytech, is a technology-led, asset-light digital bank serving emerging India. Backed by marquee investors including ICICI Group, BPCL, Blackstone, LIC, and IFC, Fino operates a high-volume, low-cost model focused on financial inclusion. The bank has received ‘In-principle’ approval from RBI to convert into a small finance bank on 5th December 2025, making it the first payments bank to achieve this distinction.

The bank's net profit had declined 46.99% to Rs 12.25 crore on a 14.51% fall in total income from operations income to Rs 394.41 crore in Q3 FY26 over Q3 FY25.