Credit Cards - June Trend Indicates Recovery In Spend Post Dip In May: ICICI Securities

A customer uses a credit card to make a contactless payment. (Photographer: Simon Dawson/Bloomberg)

Credit Cards - June Trend Indicates Recovery In Spend Post Dip In May: ICICI Securities

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ICICI Securities Report

We expect total credit card spend in Q1 FY22 to be 8% lower than in Q4 FY21 at an aggregate level.

For SBI Credit Cards and Payment Services Ltd., we expect the total spend to be Rs 333 billion in Q1 FY22E versus Rs 359 billion in Q4 FY21.

At the systemic level, the impact of Covid-19 second wave on credit card as well as other payments, has been much less than during the first wave, and recovery too has been faster.

Click on the attachment to read the full report:

ICICI Securities Credit Cards Monthly .pdf

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