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Credit Cards - Spends Remain Strong In Nov; SBI Cards' Market Share Continues To Improve: ICICI Securities

Credit Cards - Spends Remain Strong In Nov; SBI Cards' Market Share Continues To Improve: ICICI Securities

<div class="paragraphs"><p>American Express, MasterCard, and Visa credit cards are displayed for a photograph in New York, U.S. (Photographer: Daniel Acker/Bloomberg)</p></div>
American Express, MasterCard, and Visa credit cards are displayed for a photograph in New York, U.S. (Photographer: Daniel Acker/Bloomberg)

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.

ICICI Securities Report

Credit card spends declined 12% month-on-month to Rs 892 billion in November 2021 on a high base of October.

Despite the month-on-month decline, overall credit card spends are strong and the December trend is also healthy. The ratio of ‘credit card to debit card’ spend at 1.35 times now is the highest since April 2019.

SBI Cards and Payment Services Ltd. has gained 100 basis points spends market share in November 2021 (also gained in Oct-21).

Click on the attachment to read the full report:

ICICI Securities Credit Cards Monthly Update.pdf

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