Companies

Paytm Payments Bank in black, reports profit of Rs 19 crore in FY19

Our Bureau New Delhi | Updated on May 24, 2019 Published on May 23, 2019

PayTm's Payment Bank has a 19 per cent market share in mobile banking transactions. File photo   -  The Hindu

PPB had registered net loss of Rs 20.7 crore for the fiscal ended March 31, 2018

Paytm Payments Bank Limited (PPB) has turned profitable in the second year of operations, reporting a net profit of Rs 19 crore for the financial year 2018-19.

This payments bank has a 19 per cent market share in mobile banking transactions. Nearly a third of the total mobile banking transactions in India are powered by Paytm Payments Bank.

It processes over Rs 3 lakh crore worth of digital transactions on an annualised basis.

Satish Kumar Gupta, MD & CEO, PPB said, "Our Bank has performed exceptionally well in the last year and has been able to close the year on a high note, making us the first payments bank in the country to announce profit, that too within two years of operations".

Published on May 23, 2019
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