BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
The banking system reported net additions of 5,49,000 new credit cards in Feb 2021 (a 47% YoY decline) v/s 7,01,000 new additions in Jan 2021. This has taken the total credit card base to ~61.6 million (7.9% YoY growth) v/s a growth of 8.9% YoY in Jan ’21.
During February 2021, ICICI Bank Ltd., SBI Cards & Payment Services Ltd., and Axis Bank Ltd. were the largest credit card acquirers, with an incremental market share of 36.1%, 18.1%, and 18%, respectively. In FY21, ICICI Bank gained the highest incremental market share of ~32.4%, followed by SBI Cards at 30.6%.
Credit card spends declined 4% YoY to Rs 604 billion in Feb 2021. In 11M FY21, total spends declined 18.4% YoY to Rs 5.6 trillion. Among large players, ICICI Bank reported a 10% YoY growth in monthly card spends, while HDFC Bank Ltd. and SBI Cards reported a marginal decline.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR