Analysts/Institutional Investor Meet/Con. Call Updates

November 03, 2026 BSE Limited National Stock Exchange of India Limited P.J. Towers, Exchange Plaza, 5th Floor, Plot No. C/1, G Dalal Street, Block, Bandra - Kurla Complex, Bandra (E), Mumbai- 400 001 Mumbai - 400 051 Scrip Code: 543386 Symbol: FINOPB Dear Sir/Madam, Sub: Transcript of the earnings call with the investors and analysts held on October 30, 2026 - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Ref: Earnings call with Investors and Analysts on October 30, 2026 In continuation to our letter dated October 21, 2026 and October 30, 2026, please find enclosed herewith the transcript of the earnings call with the investors and analysts held on October 30, 2026. This disclosure will also be available on the Bank’s website i.e. www.fino.bank.in Kindly take the same on record. Thanking You Yours faithfully, For Fino Payments Bank Limited Basavraj Loni Company Secretary & Compliance Officer Place: Navi Mumbai Encl: As above Fino Payments Bank Limited Registered Office: Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1, 8th Floor, TTC Industrial Area, MIDC Shirwane, Juinagar, Navi Mumbai - 400 706 | CIN: L65100MH2007PLC171959 | Tel: (+91 22) 7104 7000 | Website: www.fino.bank.in | Email: cs@fino.bank.in “Fino Payments Bank Limited Q2 FY27 Earnings Conference Call” October 30, 2026 MANAGEMENT: MR. KETAN MERCHANT – INTERIM CHIEF EXECUTIVE OFFICER – FINO PAYMENTS BANK LIMITED MR. ANUP AGARWAL – INTERIM CHIEF FINANCIAL OFFICER – FINO PAYMENTS BANK LIMITED MR. TEJAS MANIAR – CHIEF DIGITAL AND LIABILITIES OFFICER – FINO PAYMENTS BANK LIMITED MODERATOR: MS. SHEETAL KHANDUJA – GO INDIA ADVISORS Page 1 of 13 Fino Payments Bank Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Fino Payments Bank for Q2 FY27 Earnings Conference Call hosted by Go India Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Sheetal Khanduja from Go India Advisors. Thank you, and over to you, ma'am. Sheetal Khanduja: Thank you, Huda. Good afternoon, everyone, and welcome to the Q2 FY27 Earnings Call of Fino Payments Bank. We have on the call Mr. Ketan Merchant, Interim Chief Executive Officer; Mr. Anup Agarwal, Interim Chief Financial Officer; and Mr. Tejas Maniar, Chief Digital and Liabilities Officer. We must remind you that the discussion on today's call may include certain forward-looking statements and must be, therefore, viewed in conjunction with the risk that the company faces. May I now request the management to take us through the financials and the business outlook, subsequent to which we will open the floor for Q&A. Thank you, and over to you, Ketan. Ketan Merchant: Thank you, Sheetal. Good afternoon, everyone, and thank you for joining us on Fino Payments Bank earnings call for the second quarter and first half of FY27. Let me begin with where we stand on our journey of becoming Small Finance Bank. We are making steady and visible progress and remain on track to meet RBI stipulated conditions within the prescribed timeline. On SFB preparedness, we made meaningful progress this quarter across technology, people and process. On the people front, we strengthened our leadership team with four senior executives who will drive branch banking, liabilities, credit risk and MSME lending. Each of them brings a unique set of skills and expertise to the table backed by over two decades of experience in banking industry. On technology front, we are building capabilities which complements our existing distribution ecosystem, enhancing our enterprise-wide technology architecture and create seamless customer journeys from sourcing to sanction and execution with minimum manual intervention. On the process and project management and governance, PricewaterhouseCoopers continues to support our program and operational readiness. We are establishing a robust governance, risk and compliance framework, along with the core policy suite that a Small Finance Bank requires. These are investments we are making ahead of growth, however, important from the long-term sustainable perspective. Turning to our loan referral business, which serves as a foundation of our broader lending franchise. Total disbursals in Q2 were INR 762 crores, up by 286% on a year-on-year basis. While for H1'27, disbursals stood at INR 1,390 crores, already surpassing full-year levels of FY26, which stood at INR 1,285 crores. We have consciously kept this business centered on Page 2 of 13 Fino Payments Bank Limited October 30, 2026 collateral-based lending, which aligns with our strategy on secured portfolio once we enter the Small Finance Bank era. Beyond fee income today, referral business deepens organizational insights into customer credit market demand, servicing experience and stronger lending partnerships ahead of the launch of our own lending business. This growth currently being witnessed is a testimony to scalability of our differentiated credit sourcing model through merchants. Our capital position continues to remain comfortable, and we are above the regulatory requirement for the proposed Small Finance Bank. And our business plan through FY30 remains exactly the same as we had predicted earlier. We will continue to build a predominantly fee- based business and strong liability franchise, complemented by secured lending portfolio. Coming to our liability franchise, this remains the cornerstone of our model and our biggest strategic differentiator. Our CASA base is inching towards a 2-crore mark, having reached 1.91 crore as at September 2026. This quarter saw 8.2 lakh new accounts open, averaging roughly 1 new account being opened every 10 seconds. Average total deposits grew by 12% on a Y-o-Y basis to INR 2,794 crores, continuing its growth momentum. To further strengthen the deposit base, we have launched a daily deposit plan product wherein merchants would get the customers to deposit fixed daily amount in the account and thereby encouraging customers to save and build disciplined saving habits and convenience to small vendors through deposits in their bank accounts every evening post banking hours. In addition, we are also planning to launch value savings account in partnership with NBFC and other institutions, which are our CMS business associates to cater to customers obtaining loans from these financial institutions that is B2B2C customer acquisition strategy. CASA segment contributed INR 174 crores or 52% of our revenue, including a record renewal income of INR 74.6 crores, which we see as one of the biggest indicators of sustainable retail income. Our cost of funds for Q2'27 was 1.4%, giving Fino a structural cost advantage. Further, we expect our cost of funds to be around 4% even after SFB conversion, retaining an advantage of roughly around 250 to 300 basis points over the traditional SFBs. Our more than 20 lakhs strong asset-light merchant network remains a key competitive strength. It helps us acquire customers at a relatively low cost and gives us a ready distribution platform for future banking and lending products. Digital engagement also continues to deepen as digitally active customers in September'26 stood at 64.9 lakhs, while for the entire second quarter of FY27, it stood at 87.9 lakhs. Turning to our traditional transaction business. We saw a sequential increase in throughput and revenue from remittance and Aadhaar Enabled Payments System. Overall, UPI continues to dominate the ecosystem and driving behavioral shift from cash or card-based small ticket size transactions to UPI. To address this shift, we have launched Cash@UPI [Showing first 8,000 characters — download PDF for full document]