Fino payments bank CEO expects to double customer base to 10 million in two years

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Fino Payments Bank CEO Rishi Guptastated that the startup is on a customer acquisition spree and expects to reach 10 million customers in the next 24 months.

Fino claims to have approximately 4.6 million customers in the country at the moment. “That would be a sizable CASA base, which could lead to a much higher annuity income in the coming years,” Gupta said, referring to the impact of the increased customer base on current and savings accounts (CASA). Fino also stated in its annual report that, based on the rate of expansion for transactions and CASA, it expects to double its network to over 2 million merchant points in the next 36 months. During the noon trade on Wednesday, the company’s shares were trading 3.16% higher at INR 268 on the BSE.

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Fino payments bank CEO expects to double customer base to 10 million in two years

Fino Payments Bank CEO Rishi Guptastated that the startup is on a customer acquisition spree and expects to reach 10 million customers in the next 24 months.

Fino claims to have approximately 4.6 million customers in the country at the moment. “That would be a sizable CASA base, which could lead to a much higher annuity income in the coming years,” Gupta said, referring to the impact of the increased customer base on current and savings accounts (CASA). Fino also stated in its annual report that, based on the rate of expansion for transactions and CASA, it expects to double its network to over 2 million merchant points in the next 36 months. During the noon trade on Wednesday, the company’s shares were trading 3.16% higher at INR 268 on the BSE.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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