Mumbai-based Fino Payments Bank, a subsidiary of Fino Paytech, operates on an asset light business model that principally relies on fee and commission based income generated from merchant network and strategic commercial relationships.
The bank's revenue rose 25% YoY to Rs 303 crore in Q2FY23. EBITDA and PAT grew by 71% and 75% YoY to Rs 30.5 crore and Rs 13.8 crore, respectively. EBITDA margins widened to 10.1% in Q2FY23 from 7.4% in Q2FY22.
