BOM:543386

2 stories mentioning BOM:543386Updated 45d ago

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Fino Payments Bank's Net Profit Declines in Fiscal Q4; Shares Plummet 7%

Fino Payments Bank (NSE:FINOPB, BOM:543386) net profit dropped to 71.0 million Indian rupees in the fiscal fourth quarter, from 240.0 million rupees a year ago, according to a Wednesday filing to the Indian stock exchanges by the digital banking company.The company's shares fell nearly 7% in Thursday's trade.Earnings per share during the quarter ended March 31 contracted to 0.85 rupees compared with the year-ago figure of 2.88 rupees.Interest earned by the lender in fiscal Q4, however, increased to 641.0 million rupees from 527.8 million rupees a year earlier.

BOM:543386NSE:FINOPB

Asia70d ago

Fino Payments Bank Migrates Core Banking System to Finacle

Fino Payments Bank (NSE:FINOPB, BOM:543386) said it has migrated its core banking system to the Finacle banking solution, according to an Indian bourse filing on Wednesday.Shares of the company rose over 1% in Thursday's trade.The transition was carried out in phases and led to a temporary moderation in business volumes during the fiscal fourth quarter ended March 31 to ensure system stability and data integrity, the company said in the filing.The new platform is expected to support the bank's next growth phase, including its planned transition to a small finance bank, the filing said.

BOM:543386NSE:FINOPB

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