Airtel Payments Bank set to break even this fiscal

Kolkata: Airtel Payments Bank (APB) is set to break even in this financial year, having notched up strong revenue growth in the previous fiscal and also turned contribution positive, implying revenue fully covered variable costs, said a senior company executive.

Covid-19 is a major growth driver for Bharti Airtel’s payments banking arm, he said, as customers want banking solutions closer to their homes and also seek convenient and more secure digital payment options.

“Airtel Payments Bank is confident of breaking even this year, helped by the growing scale of its model that leverages deep distribution backed by investments in digital infrastructure,” the executive told ET on condition of anonymity.