InvestorQ : Did ICICI Bank and SBI really benefit from the 8-month card issue ban on HDFC Bank by the RBI?
Rutuja Nigam made post

Did ICICI Bank and SBI really benefit from the 8-month card issue ban on HDFC Bank by the RBI?

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4 months ago
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There were always speculations that large credit card issuers like ICICI Bank and SBI would have benefited from the RBI ban on HDFC Bank. Now there are numbers to ratify the fact. It emerges that ICICI Bank was the biggest beneficiary of this 8-month ban followed by SBI Cards. Prior to the ban, HDFC Bank was the largest card issuer in India followed by SBI and ICICI Bank in that order. That order has not changed even after the ban.

However, HDFC Bank lost 5.59 lakh credit card accounts, although it still remains the leader with 1.48 crore credit cards issued. ICICI Bank was the big gainer adding 13.2 lakh credit cards to take its tally to 1.10 crore cards. The only listed credit card play, SBI Cards, added 7.49 lakh cards to touch 1.20 cards, narrowing its gap with HDFC Bank in the cards business. However, HDFC Bank still enjoys a dominant 28% market share in credit card spends.

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