Paytm Payment Bank Limited, an unit of SoftBank-led One97 Communications Ltd, has posted a revenue of ₹720 crore for the fiscal year 2018 with a loss of ₹20 crore. This is also the bank’s first financial reporting after it started operations in 2017. Vijay Shekhar Sharma, the founder of One97 Communication, owns 51 per cent stake in the bank and the rest is held by One97 Communications.

The total income of the bank, which is about ₹650 crore, is earned from commissions, exchanges and brokerage, and those earned on walllet utilisation. Paytm Payment Bank’s parent One97 owns and operates a mobile wallet called Paytm.

According to the reporting on Registrar of Companies, which was sourced from business intelligence platform Tofler, Paytm Payment Bank’s total expenses for the fiscal stood at ₹740 crore and has not been clearly explained and been clubbed as other expenditure, according to Tofler’s explanation.

Most deposits with the bank have been invested in government securities, as per the directions from the RBI. Paytm Payments Bank offers zero balance accounts and charges on digital transactions.

Paytm Payments Bank’s CEO and Managing Director during the fiscal was Renu Satti, who had to step down earlier this year following a RBI diktat that required a banker to become the CEO of a payments bank. Following this, Paytm appointed Satish Kumar Gupta as MD and CEO in August this year. Gupta, who has over 35 years of leadership experience, previously had stints as the chief product officer at National Payments Corporation of India and SBI.

The bank, however, is under scrutiny of the Reserve Bank of India that has directed the bank to stop enrolling new customers after the banking regulator found some audit discrepancies. Paytm is still not onboarding new customers.

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