InvestorQ : How has HDFC Bank been doing on credit cards after the lifting of the RBI ban?
Rutuja Nigam made post

How has HDFC Bank been doing on credit cards after the lifting of the RBI ban?

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3 months ago
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HDFC Bank has incidentally confirmed that it had issued a total of 400,000 credit cards since the RBI ban on issue of fresh cards was lifted by the central bank in mid-August 2021. During the ban period, HDFC Bank had lost 2% market share predominantly to SBI, ICICI Bank and to Axis Bank. The primary challenge for HDFC Bank is to recoup lost market in next few quarters. It wants to soon get back to its monthly run of issuing 5 lakh credit cards.

HDFC Bank plans to reach this 5 lakh cards per month target by Feb-22. Despite the loss in market share and the aggressive strategies adopted by SBI and ICICI Bank, the reality is that HDFC Bank remains the leader with over 14.76 million credit cards issued and outstanding. In India, credit card market is still largely under-penetrated. HDFC Bank has tied up with Paytm for credit card co-branding and accessing the huge Paytm database.

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