Airtel Payments Bank

Airtel Payments Bank Q2FY25 results: Net profit rises 45% to Rs 11.2 cr

Airtel Payments Bank has posted a 45 per cent increase in net profit to Rs 11.2 crore for the second quarter ended September 2024, the company said on Wednesday. The company had registered a net profit of around Rs 7.72 crore a year ago. The bank said its quarterly revenue grew 58 per cent to Rs 674 crore during the reported quarter on a year-on-year basis. "These results underscore our position as a key player in the digital banking sector, where we have been the fifth largest mobile bank in India. The rising adoption of our digital solutions and security features has made us India's first choice for a safe second account. This growth validates the strength of the payments bank model," Airtel Payments Bank MD and CEO Anubrata Biswas said. Airtel Payments Bank's monthly transacting users (MTU) rose 76 per cent on a year-on-year basis to 102 million in the quarter under review. The annualised gross merchandise value (GMV) crossed USD 40 billion and customer balances increased by 43

Airtel Payments Bank Q1 results: PAT up 41% to Rs 7.2 cr on revenue rise

Airtel Payments Bank on Thursday said its net profit for the June quarter rose 41 per cent year-on-year to Rs 7.2 crore, amid uptick in digital savings bank accounts alongside other digital offerings. Announcing its consolidated report card for the first quarter ended on June 30, 2024, Airtel Payments Bank said it has hit a significant milestone and that, in a first, the bank's quarterly revenue grew to Rs 610 crore, up by 52 per cent on-year. The net profits stood at Rs 7.2 crore, up by 41 per cent year on year. "During the quarter, the Bank's Monthly Transacting Users (MTU) exceeded 88 million giving a boost to customer deposits, which grew by 53 per cent year-on-year to Rs 2,943 crore," it said. The Bank's annualised gross merchandise value stands at over Rs 3,400 billion (Rs 3,40,000 crore). "The growth in revenue and MTUs has been driven primarily by an uptake in the Bank's digital savings bank account along with other digital offerings. The Bank's eco-friendly NCMC (National

Airtel PB records 49% dip in wallet numbers despite Paytm PB's downturn

The company however has registered a steady increase in transaction volumes

Allowing payment banks to lend will have big impact: Anubrata Biswas

Anubrata Biswas, managing director and chief executive officer of Airtel Payments Bank, discusses the quarterly results and future prospects with Harsh Kumar

Airtel Payments Bank's FY24 profit surges 60% to Rs 34.5 cr, revenue up 42%

Airtel Payments Bank on Wednesday reported a 60 per cent year-on-year surge in its profit at Rs 34.5 crore in FY24. Revenue for the fiscal saw a 42 per cent increase to Rs 1,836 crore, according to a company statement. "As we witness sustained demand for our digital offerings and accelerate customer acquisitions, we remain steadfast in our mission to empower every Indian with safe, simple and rewarding digital banking services," Anubrata Biswas, MD and CEO of Airtel Payments Bank, said. Calling it the strongest quarter, the payments bank said it posted a 15 per cent sequential growth at Rs 539 crore in the March quarter. The bank, a subsidiary of telecom major Bharti Airtel, said it witnessed significant momentum in savings account acquisitions in Q4FY24 and now onboards over a million new customers monthly. Its monthly transacting users (MTU) grew to 80.4 million, and its gross merchandise value (GMV) reached Rs 2,550 billion. "Over the past four years, the bank has experienced

Fin inclusion, digital growth to drive momentum: Airtel Payments Bank CEO

Airtel Payments Bank CEO Anubrata Biswas is optimistic that the payments bank momentum in India will yield strong growth horizons and opportunities in the coming years, supported by financial inclusion imperatives and rapid pace of economic and digital growth. In an interview to PTI, Biswas said FY24 has been a "remarkable year" for Airtel Payments Bank, which has been growing in double digits across all key metrics such as users, revenue, and profits. "We are still closing the books (for the fiscal) but as we stand today, we are going to see high double-digit growth rates on revenue, profit and users continue," he said. Airtel Payments Bank has nearly 500,000 banking points spread across the country, today. It offers end-to-end digital banking solutions, along with a bouquet of digital financial services -- insurance, lending, and investment solutions. Airtel Payments Bank has three clear segments when it comes to serving customers across geographies -- the urban digital, the rur

Airtel Payments Bank's new NCMC-enabled debit, prepaid cards: How it works

Airtel Payments Bank is introducing new cards enabled with NCMC (National Common Mobility Cards) technology.

Tap-and-Pay: Noise launches watch in partnership with Airtel Payments Bank

Called the Airtel Payments Bank Smart Watch, the watch has NFC chip for contact less payments at Point of Sale terminals, retail outlets ,and more

Airtel Payments Bank sees surge in number of customer applications: CEO

The company said, given the trend, the bank would add one million on a monthly basis

Airtel Payments Bank Q2 results: Net profit rises to Rs 7.7 crore

Airtel Payments Bank on Thursday posted a multifold jump in net profit to Rs 7.7 crore in the September quarter mainly on account of uptick in saving accounts. The company, which is the only profitable payments bank, had posted a profit of Rs 3 crore in the year-ago period. The revenue of Airtel Payments Bank grew 39 per cent on a year-on-year basis to Rs 427 crore during the reported quarter. The bank's Monthly Transacting Users (MTUs) grew to Rs 5.8 crore, giving a boost to customer deposits, which grew 52 per cent year-on-year to Rs 2,060 crore, Airtel Payments Bank said in a statement. "The growth in revenue and MTUs is driven primarily by an uptick in the bank's savings bank accounts," the statement said. The bank's annualised gross merchandise value stands at over Rs 2,50,000 crore. "The success we have attained reaffirms the viability of the payments bank model, underscoring its pivotal role in addressing the digital and financial inclusion needs of India. We are well pois

Airtel Payments Bank, IDEMIA, HMD team up to enable use of digital rupee

Airtel Payments Bank, identity technology company IDEMIA and Nokia brand phone maker HMD Global have joined hands to bring Central Bank Digital Currency on feature phones in India, a joint statement said on Wednesday. All three organizations would be working together to introduce an advanced offline payment system over the next few months that would facilitate the use of the digital rupee on feature phones and promoting financial inclusion, the statement said. "Our partnership with IDEMIA and Nokia is a testament to our unwavering commitment to drive financial inclusion in the country. We are confident that once we move from the design phase and launch the solution commercially with all required approvals, it will play a pivotal role in advancing the accessibility of financial services," said Prasad Routray, Corporate Business and Alliances Head, Airtel Payments Bank. According to the industry estimate, there are about 25 crore features phone users in India. For the first time in t

Digital cash now available on feature phones, to expand financial inclusion

Nearly 300 million feature phone users will benefit

IDEMIA, Airtel, Nokia join hands for offline CBDC payment on feature phones

Under this collaboration, IDEMIA's technology will offer an offline layer to ensure instant and secure transactions without the need for online validation

Airtel Payments Bank revenue grows 41% to Rs 400 cr in Q1, profit up 143%

Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter ended June 30, 2023. The unlisted entity of Bharti Group said that its profit grew by 143 per cent on a year-on-year basis without disclosing the actual number. "For the first time, the Bank's quarterly revenue grew to Rs 400 crore for the first quarter (Q1) of financial year (FY) 2024, an increase of 41 per cent YoY. For the Q1'FY24, the Bank's profits grew by 143 per cent on YoY," the company said in a statement. The customer deposits at Airtel Payments grew to Rs 1,922 crore and it now has 5.54 crore monthly transacting users, an annualised gross merchandise value (GMV) of Rs 2,381,00 crore and revenue of over Rs 1,600 crore on an annual basis, the statement said. "For the first time, our revenues have surged to INR 400 crore. Our brand's reliability and cutting-edge product offerings, combined with an unparalleled distribution network and advance

Airtel Payments Bank launches r-PVC-based eco-friendly debit card

Producing these eco-friendly debit cards will also diminish petroleum consumption during manufacturing, cutting hydrocarbon usage by 43 per cent

Expanding banking points, product lines, debit cards in rural areas: Airtel

Airtel Payments Bank is experiencing "strong tailwinds of demand", and will grow its banking points and deepen product offering range this year, as it looks to raise customer count and average realisation per user, according to CEO Anubrata Biswas. Airtel Payments Bank will also launch its physical debit card for rural banking consumers in September quarter (Q2FY24), having launched it already in urban markets. "We are experiencing strong tailwinds of demand, and keeping our focus on consumer choice, sustainable model and costs...The opportunity is limitless as long as we stay focused on solving consumer needs and problems," Biswas told PTI. The payments bank has grown by a CAGR of 35-40 per cent between mid 2018 and mid 2023, and expects to close the June quarter (Q1) with an annualised run rate of Rs 1,600 crore. "Today our Average Revenue Per User (ARPU) is in low 20s (in rupee terms), and as our product penetration increases, and cross-sell efforts increase, our ARPU will go up

Airtel Payments Bank's FY23 profit rises over two-fold to Rs 21.7 crore

Airtel Payments Bank on Thursday said that its profit has more than doubled to Rs 21.7 crore in the financial year 2022-23. The company had posted a profit of Rs 9.2 crore in 2021-22. The revenue of Airtel Payments Bank grew 37 per cent to Rs 1,291 crore in the fiscal year 2022-23 from Rs 941 crore in the FY22. "This year has been a stellar year in our growth journey. Our trusted brand and innovative products, backed by unmatched distribution reach and technology, position us well to accelerate our growth further. Our strong performance is a validation of the payments bank model and its role in serving the digital and financial inclusion needs of the country," Airtel Payments Bank MD and CEO Anubrata Biswas said in a statement. Airtel Payments Bank said that it registered a 19 per cent quarter-on-quarter (Q-o-Q) growth in the January-March 2023 period with revenues of Rs 379 crore. The Bank now has 54.7 million monthly transacting users and a gross merchandise value (GMV) of Rs ..

Airtel Payments Bank partners NPCI to roll out face authentication for AePS

Airtel Payments Bank on Tuesday said it has collaborated with the National Payments Corporation of India (NPCI) to roll out face authentication for the Aadhaar-enabled Payment System at its 5 lakh banking points. Airtel Payments Bank is among the first four banks to offer face authentication for AePS (Aadhaar-enabled Payment System). "We are delighted to collaborate with NPCI to offer this new facility to our valuable customers. Face authentication is an important addition to our existing bouquet of secure and simple banking solutions to drive financial and digital inclusion in the country," Airtel Payments Bank COO Ganesh Ananthanarayanan said in a statement. NPCI's AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account. Until now, transactions were being authenticated using the customer's Aadhaar number and fingerprint or Iris match in the UIDAI records.

Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

DMRC, Airtel Payments Bank to provide another smart card top-up facility

Delhi Metro has partnered with Airtel Payments Bank to provide one more smart card top-up facility to commuters, officials said on Sunday. This new initiative is focused on contributing to the government's vision of Digital India and financial inclusion by taking digital transaction services to the doorstep of every Indian, the DMRC said in a statement. The top-up facility of Delhi Metro's smart cards will now be possible through Airtel Payments Bank, it said. This new facility will be of great convenience to the commuters since this will allow them to use one more reliable option to recharge their smart cards through their mobile phones, the statement said. The transactions will be completely safe and the card or internet banking details will be saved only once by the app. Recharge through this facility will be fast and convenient, it added.