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".