Deposit base growing 5-7% consistently for last 6 months: Airtel Payments Bank MD & CEO

According to Airtel Payments Bank MD & CEO Anubrata Biswas, the bank has been witnessing roughly 5-7% month-on-month growth in its deposit base consistently for the last six months. Presently, the bank has 2 crore active savings accounts.

Biswas said, “During the pandemic our savings account customer base has increased, mainly in rural areas. Today, we are present in one lakh tier-VI villages. During COVID times people have really found value in this deep rural distribution.”

“We have seen roughly 5-7% month-on-month growth in deposit base consistently for the last six months”, he declared.

The bank’s active user base has been growing around 60-65% on year-on-year basis. Active users are the people who transact with the payment bank or people who keep money with it.

“Currently we have an active user base of five crores. Especially, during COVID we have grown a lot in terms of active customer base, volume of transactions and revenues, among others. Our business correspondent network has really grown in size and scale. So, that business has grown. And, a lot of companies have realised that during this time they can use the technology and network that we provide for services. So, that business has also grown”, the MD & CEO added.