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Fino deposits touch all-time high of ₹2,900 crore amid rapid account additionsFino Payments Bank reported a record ₹2,900 crore in deposits as of March 13, adding 1.5 lakh new accounts since February 27. Q3 FY26 net profit fell 47% year-on-year.By Bhupendra Paintola  March 14, 2026, 4:55:41 PM IST (Published)2 Min ReadFino Payments Bank reported its highest-ever total deposit balance of about ₹2,900 crore as of March 13, according to a business update from the lender.

Deposit balances have grown nearly 9% over the past two weeks, the bank said in an exchange filing.

It also added about 1.5 lakh new banking accounts since February 27, averaging nearly 10,000 new accounts a day, indicating continued expansion of its customer base across its banking and payments platform.

For the December 2025 quarter (Q3 FY26), the bank reported a sharp decline in profitability. Net profit fell 47% year-on-year to ₹12.3 crore from ₹23.1 crore in the same period last year. On a sequential basis, profit declined about 20% from ₹15.4 crore in the previous quarter.

Total income for the quarter dropped 15% year-on-year and 2% quarter-on-quarter to ₹394.4 crore, which the bank attributed to a decline in its traditional transaction business.

The lender generates revenue primarily from three segments- retail banking, treasury operations and other banking services.

The business update comes even as legal proceedings linked to the arrest of the bank’s Managing Director continue.

The Telangana High Court has reserved its order on a writ petition filed by the Managing Director challenging his arrest in a GST evasion investigation involving merchants operating on the bank’s payment aggregation platform. The court said it will pronounce its verdict on March 17.

: Telangana HC reserves judgment on Fino Bank MD’s GST arrest plea

During the hearing, senior advocate Abhishek Manu Singhvi argued that the Managing Director had no role in the alleged tax evasion and that any GST liability rests with merchants conducting transactions on the platform, not the payment intermediary providing infrastructure.

The revenue authorities, represented by Additional Solicitor General N. Venkataraman, countered that preliminary investigations pointed to large-scale violations, including transactions worth nearly ₹10,000 crore allegedly processed without invoices. They described the matter as a serious economic offence and defended the arrest.

Separately, the bank had earlier confirmed that its Managing Director and CEO, Rishi Gupta, was arrested under provisions of the Central Goods and Services Tax Act, 2017 and the State Goods and Services Tax Act, 2017.

: Fino Payments Bank MD and CEO Rishi Gupta arrested; CFO Ketan Merchant takes charge

Following the arrest, the board appointed CFO Ketan Merchant to oversee day-to-day operations until further notice.

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