Airtel Payments Bank turns profitable in July: CEO Anubrata Biswas
In a communication to the employees, Anubrata Biswas has said over the last four years, the bank has grown rapidly, doubling every 18 months
The need for secure digital payments during the Covid-19 pandemic fuelled the growth momentum of Airtel Payments Bank, which turned profitable for the first time in July, according to chief executive officer (CEO) Anubrata Biswas.
In a communication to the employees, Biswas has said over the last four years, the bank has grown rapidly, doubling every 18 months.
“Today, the bank is a significant player in the financial and digital inclusion ecosystem of the country,” Biswas said.
He said that the bank has turned profitable for the first time in its history, and termed it a “cherished milestone” in the 55th month of operations. He, however, did not mention the financial details.
“It was equally challenging for us as a team. Yet, we have been relentless, focused, indeed unstoppable. The momentum gained from people’s need for secure digital payments, and neighbourhood access to banking during lockdowns, gave us an opportunity to accelerate in a very cost-effective way,” he said in the recent outreach to employees.