The bank’s loan referral business, which serves as a pilot for its proposed Small Finance Bank, continued to gather momentum during the month. Referral loan disbursals rose to approximately ₹240 crore, compared with ₹68 crore in the same period last year, reflecting a more than threefold increase.
According to the bank, the sharp growth highlights the credit potential within its existing customer base and strengthens its long-term lending strategy.
The core liability franchise also maintained healthy traction. Fino Payments Bank opened nearly 3.1 lakh new accounts during June, up 31% from 2.3 lakh a year ago, taking its total customer base to around 1.8 crore accounts.
Digital engagement continued to improve as well. Active users on the FinoPay mobile application increased 38% year-on-year to around 8.4 lakh during the month.
The bank, however, said its transaction business, comprising remittances, micro ATMs and Aadhaar-enabled Payment System (AePS) services, continued to face headwinds as customers increasingly shifted towards UPI-based payments. It also attributed the moderation to its strategy of focusing on higher-quality merchants with stronger transaction profiles.
That said, the company noted that the pace of decline in the transaction business has eased compared with previous months, indicating signs of stabilisation.
