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