Airtel Payments Bank (APB) has announced a significant 70% increase in net profit for the quarter ended December 31, 2024, reaching ₹ 18.5 crore. The bank’s revenue has also grown by 49% year-on-year to ₹ 700 crore, with earnings before interest, taxes, depreciation, and amortization (EBITDA) increasing by 66% to ₹ 87 crore. This growth is a significant improvement from the previous two quarters, with a net profit of ₹ 7.2 crore in the June 2024 quarter and ₹ 11.2 crore in the September 2024 quarter.
The bank’s customer base has also seen a significant increase, with Monthly Transacting Users (MTU) exceeding 100 million, up 62% year-on-year. The annualized Gross Merchandise Value (GMV) has also reached ₹ 4 lakh crore, indicating the growing adoption of digital savings accounts, merchant propositions, and other products. Customer balances have also increased by 42% year-on-year to ₹ 3,332 crore.
Airtel Payments Bank is a leading player in India’s digital banking landscape, catering to three key customer segments: urban digital, underbanked, and industries & institutions. The bank processes over 8 billion transactions annually and has over 5 lakh banking points, with over 97,000 operated by women business correspondents. The bank is also a leader in the B2B urban transit segment, having issued over 1.7 million RuPay NCMC-enabled cards to date.
The bank is committed to driving digital transactions, fostering financial inclusion, and empowering businesses across India. As the largest micro-cash player in the country, APB is digitizing ₹8,000 crore in cash transactions each month through partnerships with over 4,000 corporate clients. The bank’s merchant offerings, including its innovative Soundbox, continue to be popular among businesses.