Paytm Payments Bank (PPB) recently reported that it had earned a profit of Rs.19 Crores in FY 2018 – 19. The PPB is a subsidiary of Paytm that was launched for public use back in the year 2017. The company also claims that nearly a third of the total mobile banking transactions in India are powered by PPB. While in the previous financial year PPB had registered a loss of Rs.20.7 Crore, this year the company has done “exceptionally well”. MD and CEO of Paytm Payments Bank – Satish Kumar Gupta, said that as of April 2019 the company had more than Rs.500 crore deposits in their savings account.
Source: Business Today