365Telugu.com online news,India,February 13th,2025: Airtel Payments Bank has reported robust financial performance for the third quarter ending December 31, 2024, with a record revenue of ₹700 crore, reflecting a 49% year-on-year (YoY) growth.
The Bank’s net profit surged 70% YoY to ₹18.5 crore, while EBITDA increased by 66% YoY, reaching ₹87 crore.
The quarter witnessed a significant rise in Monthly Transacting Users (MTU), surpassing 100 million-a 62% YoY increase. The annualized Gross Merchandise Value (GMV) approached ₹4,000 billion, underscoring the growing adoption of the Bank’s digital savings accounts, merchant solutions, and other financial products. Customer balances also exhibited a strong 42% YoY growth, crossing ₹3,332 crore.
Airtel Payments Bank’s success is driven by the widespread adoption of its digital banking services, with more customers opting for its secure digital accounts for daily transactions.
The Bank has established itself as a leader in the B2B urban transit segment, having issued over 1.7 million RuPay NCMC-enabled cards. Additionally, its merchant-focused offerings, such as the innovative Soundbox, are witnessing increasing adoption across businesses. The Bank continues to expand its reach in rural India, driving financial inclusion.
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Commenting on the achievement, Anubrata Biswas, MD & CEO of Airtel Payments Bank, stated: “We are thrilled to report another quarter of strong growth, reinforcing the effectiveness of our banking model.
As a technology-driven banking platform, we remain committed to addressing the financial needs of both urban and rural customers. Today, we stand as India’s third-largest mobile bank and a trusted choice for a secure secondary account.”
Airtel Payments Bank remains a key player in India’s digital banking ecosystem, serving Urban Digital, Underbanked, and Institutional customer segments.
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Processing over 8 billion transactions annually, the Bank operates 500,000 banking points, with over 97,000 run by women business correspondents, contributing to financial empowerment in remote areas.
As a $46 billion payments company, Airtel Payments Bank continues to drive digital transactions and financial inclusion.
Currently, it is digitizing ₹8,000 crore in monthly cash transactions in collaboration with 4,000+ corporate clients, solidifying its position as India’s largest micro-cash player.