FINOPB

Jan 24 (Reuters) - Fino Payments Bank Ltd FINY.NS:

• KPMG INVESTIGATION ON MISAPPROPRIATION OF FUNDS SHOW UNAUTHORIZED ACTIONS BY STAFF

• IDENTIFIED EMPLOYEES TERMINATED ON OCTOBER 27, 2023

• BASIS KPMG REPORT TOTAL ALLEGED COMPLAINT AMOUNT IS 355.5 MILLION RUPEES

• TOOK DISCIPLINARY ACTIONS AGAINST IDENTIFIED EMPLOYEES, FILED POLICE COMPLAINTS

• TERMINATED AGREEMENTS WITH SOME MERCHANTS IN BREACH OF BANK’S PRESCRIBED PROCESS

Source text: ID:nBSE3fqS0P

Further company coverage: FINY.NS

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April 25 (Reuters) - Fino Payments Bank Ltd FINY.NS:

• FINO PAYMENTS BANK LTD - TAX PENALTY OF 1.6 MILLION RUPEES HAS BEEN IMPOSED ON CO

• FINO PAYMENTS BANK LTD - GETS TAX ORDER WITH FINANCIAL IMPACT OF 3.1 MILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: FINY.NS

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** Shares of Fino Payments Bank FINY.NS rise as much as 6.9% to 310.80 rupees, highest since Nov. 2

** FINY has applied for a small finance bank (SFB) licence, India's cenbank RBI said on Monday

** Payment banks can accept deposits but are not allowed to lend, while SFBs are allowed to do both

** FINO's board had approved the proposal for applying for the SFB licence in late July

** More than 718,000 shares traded by 1:02 p.m. IST, 3.5x of 30-day avg

** More than 700,000 shares traded in a single session six times in 2023

** Stock rose 3.1% in 2023 after losing 31.8% in 2022

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of digital financial services provider Fino Payments FINY.NS fall as much as 7.5% to 305.5 rupees, their lowest since July 23

** Stock logs steepest intraday pct decline since Nov 15, 2022

** Fino Payments on Wednesday said it received complaints from clients regarding potentially fake schemes allegedly floated by co's employees

** Co adds independent investigation conducted by KPMG indicates that there were unauthorized actions and misrepresentation by the alleged staffs

** Says there is no liability or impact on it and co has neither benefitted nor at loss due to these incidents

** Over 121,000 shares change hands, 0.7x the 30-day moving average

** Stock gains 23.6%, YTD

(Reporting by Varun Vyas in Bengaluru)

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Sept 20 (Reuters) - Fino Payments Bank Ltd FINY.NS:

• RECEIVED COMPLAINTS FROM ONE OF ITS CLIENT IN MUMBAI AND SOME OF ITS MERCHANTS

• COMPLAINTS FOR NON-RECEIPT / REPAYMENT OF FUNDS INVESTED IN POTENTIAL FICTITIOUS SCHEMES ALLEGEDLY FLOATED BY SOME EMPLOYEES OF BANK

• HAD APPOINTED KPMG TO CONDUCT A DETAILED INDEPENDENT INVESTIGATION OF INCIDENT

• INVESTIGATION SO FAR PRIMA-FACIE INDICATES UNAUTHORIZED ACTIONS AND MISREPRESENTATION BY ALLEGED STAFFS

• BANK IS OF VIEW THAT THERE IS NO LIABILITY/IMPACT ON IT

Source text for Eikon: ID:nNSE8m9sY9

Further company coverage: FINY.NS

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** Shares of Fino Payments Bank Ltd FINY.NS rise as much as 7.5% to 367.8 rupees, highest since mid-Feb 2022

** Digital financial services firm on Friday said June-qtr net profit rose 85%, aided by a 76% surge in interest earned

** Co's board approves proposal for FINY to transition into a small finance bank (SFB) from a payments bank

** Stock trading above its 50-, 100-, and 200-day moving averages since June 19, in bullish run

** Relative strength index (RSI) above 70, indicating stock is overbought

** Trading volume at ~2 mln shares, 4.6x the 30-day avg of ~440,600 shares as of 11:40 a.m. IST

** Stock last up 36.3% YTD

(Reporting by Biplob Kumar Das in Bengaluru)

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July 28 (Reuters) - Fino Payments Bank Ltd FINY.NS:

• FINO PAYMENTS BANK LTD- APPROVED PROPOSAL FOR TRANSITION OF BANK INTO A SMALL FINANCE BANK

Source text for Eikon: ID:nBSE3XcW9t

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June 20 (Reuters) - Fino Payments Bank Ltd FINY.NS:

• RAKESH BHARTIA HAS WITHDRAWN HIS NOMINATION AS PART-TIME CHAIRMAN

Source text for Eikon: ID:nNSE6Tcz8V

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** Shares of Fino Payments Bank Ltd FINY.NS rise as much as 6.8% to 232.40 rupees

** Digital financial services provider reported a 25.3% rise in March-qtr profit to 220.8 mln rupees ($2.70 mln)

** Interest earned more than doubled to 294 mln rupees

** Co says it opened 23.7% more new bank accounts in the quarter and total deposits grew 66% Y/Y

** More than 327,000 shares traded as of 9:56 a.m. IST, 3.1x their 30-day moving avg

** FINY down 11.3% YTD

($1 = 81.7880 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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