Airtel Payments Bank CEO Optimistic About Strong Growth Trajectory in India's Digital Banking Landscape

In an exclusive interview with PTI, Airtel Payments Bank CEO Anubrata Biswas expressed optimism about the promising future of payments banks in India, fueled by financial inclusion initiatives and rapid digital and economic advancements.

Biswas highlighted the remarkable performance of Airtel Payments Bank in the fiscal year 2024, with substantial growth across key metrics like revenue, profits, and user base. He emphasized that the bank is poised for high double-digit growth rates in these areas.

Airtel Payments Bank boasts nearly 500,000 banking points nationwide, providing comprehensive digital banking solutions along with insurance, lending, and investment services. The bank serves three distinct customer segments: urban digital users, underbanked rural populations, and various industries and businesses.

Reflecting on the recent financial results, Biswas cited a robust growth trajectory, with revenues increasing by 47% year-on-year and net profits soaring by 120% in the December 2023 quarter.

Biswas underscored the enduring momentum of digital banking in India, catering to urban users seeking convenient payment options. He highlighted the significant surge in digital banking adoption, particularly among urban customers, fueled by increased online account openings and demand for services like FASTag.

Looking ahead, Biswas expressed confidence in market growth opportunities for fiscal year 2025 and beyond. He projected a vast digital banking potential, estimating a market opportunity of 100 million users, emphasizing the need for diverse banking models to cater to India’s evolving economic landscape.

Regarding the broader fintech space, Biswas emphasized the pivotal role of fintechs in bridging the gap between digital users and digital financial services, particularly in light of recent regulatory developments affecting players like Paytm Payments Bank.

In conclusion, Biswas highlighted Airtel Payments Bank’s unique positioning as a regulated fintech entity, poised for robust growth and deepening customer relationships in the evolving digital banking ecosystem.