Name: Latest research reports of Fino Payments Bank Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Fino Payments Bank Ltd.
Rating: 5
Author: ICICI Securities Limited

Sequential improvement across the board; sustainability is key

Buy: Fino Payments Bank Ltd.

Target

ICICI Securities Limited

Fino Payment Bank’s (Fino) Q2FY23 financial performance showed improvement
across business parameters as reflected in 36% QoQ growth in earnings at Rs138mn
–driven largely by 60bps QoQ gross profit margin expansion and benefits of operative
leverage.