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.
Axis Securities Report
In Q4 FY21, the credit card industry registered a spends growth of 10% YoY and cards in-force (CIF) growth of 8% YoY.
This was partly aided by a low-base effect with Covid-19 induced lockdowns impacting March 2020 performance.
On a sequential basis, the industry witnessed growth of 4% QoQ in spends and 3% QoQ in CIF, albeit Q3 FY21 is generally a strong quarter on account of the festive season.
Business volumes de-grew by 6% YoY in Q4 FY21 as point of sale spends remained impacted.
For FY21, the overall industry spends de-grew by 14% YoY. H1 FY21 was particularly weak on account of nation-wide lockdowns.
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