Airtel Payments Bank CEO says revenue up 87% in FY20; sees headroom for growth

Airtel Payments Bank’s revenues rose 87 per cent to Rs 474 crore during FY20, driven by surge in digital payments, money transfer and offtake of new services, according to its MD and CEO Anubrata Biswas.

The payments bank sees a “massive headroom for growth” and its promoters remain committed to unlocking this potential, Biswas told PTI.

Last year, Bharti Airtel and Bharti Enterprises had injected an additional Rs 325 crore into the payments bank.

“Airtel Payments Bank’s revenues rose 87 per cent to Rs 474 crore during FY20, fuelled by surge in digital payments, money transfer, and offtake of new services”, Biswas said.

Addition of new services such as insurance to the portfolio, along with healthy adds in new savings accounts also buoyed the numbers.