# Fino Payments Bank posts Rs 20.9 crore net loss in Q2

2026-10-29T18:56:55+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 4 independent outlets

Fino Payments Bank reported a net loss of Rs 20.9 crore for the September quarter, against a net profit of Rs 15 crore a year earlier, as investments for its planned transition to a small finance bank weighed on earnings. Net interest income rose 20% year-on-year to Rs 39 crore, while total income fell 17% to Rs 333.6 crore, CNBC-TV18, The Hindu Business Line, Rediff and Inc42 reported. The bank attributed the loss to investments in technology, infrastructure and talent for the SFB transition, as well as the impact of core banking system migration. Loan referral disbursals surged 286% year-on-year to Rs 762 crore in the quarter. Average deposits rose 12% to Rs 2,794 crore, and the CASA customer base grew 20% to 1.91 crore customers, CNBC-TV18 and The Hindu Business Line reported. Ketan Merchant is serving as interim MD and CEO after the arrest of former MD and CEO Rishi Gupta in February on GST violation charges, Rediff and Inc42 reported. The bank said it is focused on strengthening its retail franchise and preparing operationally for the SFB transition.

## Indian Opinion Analysis

CNBC-TV18 and The Hindu Business Line frame the loss as a result of planned SFB transition investments and highlight operational growth metrics such as loan referral disbursals and deposit growth. Rediff and Inc42 foreground the leadership turmoil after the arrest of former CEO Rishi Gupta, which the other sources omit. The two sets of sources do not conflict but serve different angles: one focuses on strategic preparation, the other on disruption. A balanced reading notes that the loss is the second consecutive quarterly loss and that the bank is in a consolidation phase under an interim CEO, with no timeline given for the SFB transition.

## Coverage

Coverage: 4 sources, 4 neutral
- cnbctv18.com (neutral report) <https://www.cnbctv18.com/market/earnings/fino-payments-bank-q2-loss-nim-revenue-sfb-transition-20022717.htm>
  Focuses on SFB transition costs and loan referral growth
- thehindubusinessline.com (neutral report) <https://www.thehindubusinessline.com/money-and-banking/fino-payments-bank-reports-net-loss-of-209-crore-in-q2fy27/article71641755.ece>
  Leads with loss, details deposits and SFB preparation
- rediff.com (neutral report) <https://www.rediff.com/business/report/fino-payments-bank-reports-rs-21-cr-loss-in-q2/20261029.htm>
  Leads with loss and CEO arrest, notes leadership change
- inc42.com (neutral report) <https://inc42.com/buzz/fino-payments-bank-posts-%E2%82%B921-cr-loss-in-q2-total-income-falls-17-yoy/>
  Leads with loss, highlights second consecutive quarterly loss

This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry.

Tags: Fino Payments Bank, Ketan Merchant, Rishi Gupta, SFB transition
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