Airtel Payments Bank could be on the verge of a major expansion, with Bharti Enterprises Chairman Sunil Bharti Mittal outlining an ambitious growth roadmap for the financial services business. The payments bank, backed by Bharti Airtel, is being positioned for a larger role in India's financial sector, with a potential stock market listing emerging as a possibility over the next three to four years.
\n\nMittal believes the business has considerable untapped potential and could evolve into a substantial financial services enterprise. The proposed expansion is linked to ambitious revenue, profitability and deposit targets that the bank is expected to pursue in the coming years.
\n\nSpeaking with CNBC TV18, Mittal indicated that Airtel Payments Bank could achieve Rs 10,000 crore in revenue, Rs 1,000 crore in profit and Rs 10,000 crore in deposits over the next few years.
\n\nDescribing the financial services venture as a ‘sleeping giant’, Mittal highlighted the opportunity to build a much larger business around its existing customer network and expanding operations.
\n\nMittal suggested that an IPO could become a possibility within the next three to four years. However, reaching a meaningful scale remains an important milestone before the company considers entering the public markets.
\n\nCustomer Base Approaches…
Original source: https://www.timesnownews.com/business-economy
