Airtel Payments Bank's annual net profit rises 60% to Rs 35 crore

Airtel Payments Bank announced a substantial 60% surge in its annual net profit, reaching Rs 35 crore, accompanied by a notable 42% increase in revenue, totaling Rs 1,836 crore. The bank's performance was buoyed by a significant expansion in its monthly transacting user base, which reached 80.4 million, contributing to a remarkable 50% growth in customer deposits, which soared to Rs 2,801 crore. \r

Additionally, the bank's gross merchandise value surged to an impressive Rs 2.5 lakh crore. These robust financial indicators underscore the bank's growing traction and popularity among users, highlighting its ability to effectively cater to the evolving needs of customers in the digital banking landscape. Airtel Payments Bank's strong performance reflects its commitment to delivering innovative and reliable banking solutions, further solidifying its position as a key player in India's rapidly expanding digital payments ecosystem.