How did the credit card industry fare in Nov ’22?
16The industry added 1.3 million credit cards in the month of November 2022, which is 1.6% of the current base. Among peers, SBI Card saw the highest additions at 3.88 lakh cards. This was followed by HDFC Bank and Axis Bank who added 2.36 lakh and 2.08 lakh cards, respectively. On the flip side, ICICI Bank lost 1.06 lakh cards. Additionally, while credit card additions were healthy; credit card spends stood at Rs. 1.15 lk cr, a decline of 11.2% MoM. Despite this, they managed to stay above the Rs. 1 lakh crore mark for 9th consecutive month. What is the credit card spends looking like for Dec 2022? How has market share moved? Listen in to what Vamakshi Dhoria has to say.
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