Page 3 - Fino Payments Bank

Fino Payments Bank gets Sebi nod for initial share saleto raise Rs 1,300 cr

Markets regulator Sebi has given its nod for the initial public offering of Fino Payments Bank, which is looking to raise around Rs 1,300 crore

Fino Payments Bank files papers with Sebi for Rs 1,300-crore IPO

Fino Payments Bank has filed preliminary papers with markets regulator Sebi to raise an estimated Rs 1,300 crore through an initial share-sale.

Fino Payments Bank says inclusion in commercial bank list to boost biz

Fino Payments Bank on Wednesday said it will be able to improve its business prospects further as the RBI has included it in the category of a scheduled commercial bank. The Reserve Bank on Tuesday said it has included Fino Payments Bank in the Second Schedule of the Reserve Bank of India Act, 1934. The scheduled commercial bank, also called scheduled bank, status allows Fino to enhance its banking position in the treasury and participation in liquidity adjustment facility (LAF) window as per the RBI. It also helps the bank strengthen its business proposition on liabilities generation, Fino said in a release. "It provides strategic impetus for Fino Payments Bank to enhance its scope on balance sheet management and explore additional avenues for business. We are keen to capitalise on the growth opportunities that exist within the regulatory guidelines and build on the momentum of consistent profitability achieved last fiscal," said Rishi Gupta, MD & CEO, Fino Payments Bank. The ...

Fintechs show interest in becoming SFBs, but transitions involve risks

The fintech model is conceptualised as asset-light, which, in fact, played a huge role in Fino Payments Bank's early breakeven

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

Converting to a small finance bank is an option: Fino Payments Bank MD

RISHI GUPTA, managing director and chief executive officer, tells Raghu Mohan that if payments banks are allowed to give loans, the business model will be more sustainable

Now, Fino Payments Bank can open new accounts as RBI lifts ban

Paytm Payments Bank and Airtel Payments Bank were also barred from onboarding new customers earlier

Fino Payments Bank to raise up to Rs 200 cr via equity in FY18

FinoPayments Bank will raise upto Rs 200 crore in capital from new set of investorsin this financial year to fund the network expansion plans. Rishi Gupta,its managing director and chief executive, said bank will look at between Rs150-200 crore of capital to back expansion plans.In themedium term (2.5-three years) would look at listing bank on exchanges to meetregulatory condition set out in banking license. Exact timing for listing islinked to bank achieving break even, he said.Paymentsbank, backed by private lender ICICI Bank and oil marketing major BPCL, today commencedoperations with 410 branches and 25,000 touch points across 14 states in country.Airtel Payments Bank, Paytm Payments Bank and Postal Bank have already becomeoperational.In January2017 Fino completed its ?400 crore fund raising exercise. In the process thecompany has also complied with RBI's guidelines on having majority domesticshareholding.Earlier inJuly 2016 the company struck a strategic partnership with Bharat ..