Fino-Payment bank shown operational profitability in FY19-20- 22.05.2020

Fino Paytech Performance FY 20

(i) Fino Paytech has hit operational profitability and reduced its net loss by 50% for the last financial year.

(ii) Fino reported a net revenue of Rs 689 crore, up 86 percent from Rs 370 crore in FY 2019.

(iii) First payments bank to achieve profitability at scale while leveraging the core business of driving financial inclusion and digital payments beyond metropolitan India.

(iv) Fino has facilitated transactions worth Rs 1 lakh crore in FY20, doubling from the previous year.

(v) Fino processed 380 million last year against 195 million in FY19.

(vi) Fino has increased its savings and current accounts base by 65% last year.

(vii) While COVID-19 has had a massive impact on the digital payments and financial services industry, Fino is confident of getting back to its pre-COVID-19 business volumes within the next few months.

(viii) Fino operates 2 lakh banking points directly and another 2 lakh through partners.

(ix) Fino has set an aim to reach 10 lakh points in the next two to three years.