Credit Cards - Industry Card Addition Buoyant; Spends Moderates: Axis Securities

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.Strong pick-up in the new card issuances supported by the economic unlocking and festive demand boosting the open market channel resulted in a ~12 lakh million new card additions in November 2021. On a year-to-date basis, new card additions grew by 134% YoY. However, Nov-21 data suggests moderation in credit card spends month-on-month post a strong show in Oct-21, though YoY growth remains robust at 43% YoY.We believe a large part of the spends improvement is aided by a revival in discretionary spends and increasing spends on domestic travel post easing of restrictions. Despite the restrictions on international travel (high-value), spends have witnessed a strong rebound. However, with the increasing risk of the Omicron variant and the government’s restrictions on flights, we believe this category of spends is likely to remain under pressure for some more time..Click on the attachment to read the full report:.DISCLAIMERThis 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 author entity 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.

Credit Cards - Industry Card Addition Buoyant; Spends Moderates: Axis Securities

Credit Cards - Industry Card Addition Buoyant; Spends Moderates: Axis Securities

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