Fino Payments Bank Limited shares jumped to a day high of Rs 141.00 on the BSE on 9 June, after the company released its business performance figures for May 2026 showing solid growth in deposits, new customers and loan referrals.

The headline numbers were hard to ignore. The bank opened around 2.94 lakh new deposit accounts in May, up 29% from a year ago. 

Average total deposits grew 10% year-on-year to Rs 2,762 crore. On the digital side, customers actively using the bank’s app rose 19% to 62.6 lakh, while FinoPay active users grew 22% to 7.2 lakh.

The loan referral business was the standout performer. Disbursals hit Rs 210 crore in May 2026, nearly three times the Rs 73 crore recorded in May 2025. That’s a 186% jump in a single year. 

The bank is deliberately focusing on secured loan assets as it works toward converting into a Small Finance Bank, or SFB, a different category of banking licence that allows it to offer a wider range of products directly.

One number did go the other way. Transaction throughput, which covers remittances, micro ATMs and AePS, fell 48% to Rs 2,546 crore from Rs 4,863 crore a year ago. 

The bank said this is largely because more customers are now using UPI instead of cash-based services, and the bank is also being more selective about which merchants it works with.

On the SFB transition front, Fino has signed a partnership with Ezee.ai to build out a lending ecosystem. The platform runs on a Finacle-based core banking system, which is widely used by Indian banks.

At 14:00 pm on 9 June, shares were trading up 7.70% at Rs 137.85, pulling back from the day high of Rs 141.00. The 52-week high stands at Rs 339.00 and the 52-week low at Rs 110.10.

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