BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
The banking system reported net additions of ~1.8 million credit cards in June 2022, led by healthy traction in HDFC Bank Ltd., Kotak Mahindra Bank Ltd., and Axis Bank Ltd. Thus, taking its total credit card base to 78.7 million (up 25.3% YoY – the highest in the past 30 months).
Among major players, Kotak Mahindra Bank reported strong growth (up 64.3% YoY), followed by Axis Bank (up 36%), IndusInd Bank Ltd. (up 29.3%), and RBL Bank Ltd. (up 27.3%).
HDFC Bank was the largest acquirer, with new card additions of ~386,000.
Credit card spends fell 4% month-on-month, but remained robust at Rs 1.1 trillion in June 2022. The same grew a strong 73% YoY (up 24% on a three-year compound annual growth rate basis).
Click on the attachment to read the full report:
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.