Fino Payments Bank registers profit for the third straight quarter

Bank achieves transactions worth Rs 12,500 cr, twice that in the same month last year; eyes conversion into SFB following

Riding the surge in digital transactions due to Covid-19, Mumbai-based Fino Payments Bank has registered a profit of Rs 4.5 crore in the quarter ending September, 2020. This is the third consecutive quarter that Fino has registered profit, starting from Q4 of last financial year.

“In the last one-and-a-half years we started to see a change in consumer behaviour, wherein we saw them coming to merchant and digital channels, which got further accentuated because of covid. In October, we did more than Rs 12,500 crore worth of transactions, which is twice of what we did in the same period last year,”