PPB had registered net loss of Rs 20.7 crore for the fiscal ended March 31, 2018, according to regulatory documents. PPB, which was incorporated in August 2016, formally began its operations in 2017.
Satish Kumar Gupta, MD and CEO of Paytm Payments Bank said the bank performed "exceptionally well" in the last year.
"(PPB) 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 its operations... as of April 2019, we have more than Rs 500 crore deposits in our savings account, which makes us the largest payments bank in India in terms of deposits," he said.
Gupta said, the bank aims to introduce more products and features on its platform to increase the monthly processing of savings account payments from Rs 24,000 crore to Rs 40,000 crore in FY'20.
Paytm Founder Vijay Shekhar Sharma holds 51 per cent share in Paytm Payments Bank, while the rest is held by One97 Communications.