30/4/2025, 2:40:05 pm

Buy Fino Payments Bank; target of Rs 300: Emkay Global Financial

Fino Payments Bank reported a 2.5% beat in PAT at Rs240mn, driven by strong growth in CASA and DPS segments, despite remittance business pressures. Deposits rose 37% YoY to Rs19.4bn, with 0.9mn new CASA accounts added in Q4. The bank aims to secure an SFB license soon to expand lending opportunities. Emkay retains a BUY rating with a target price of Rs300.