FINOPB Q4 FY26 Guidance vs Delivery (FINOPB Management Mirror)

SFB Transition & Long-Term Targets

Management expects to launch Small Finance Bank (SFB) lending operations around Jun'27 without raising fresh capital, backed by an 83% capital adequacy ratio in the Mar'26 Qtr. The previously considered reverse merger is deferred until post-launch. The bank consistently targets a 20% ROE by Mar'30, driven by an asset-light, merchant-led model providing a structural 300 basis point advantage. Cost of funds is projected at 3.9% with a 90% secured loan book targeting Net Interest Margins (NIM) of 8% to 10%, consistent with Dec'25 Qtr guidance. [Status: Reaffirmed]