Business Standard

SBI Cards to grow portfolio by 1 mn in 3 yrs

Related News

SBI Cards, joint venture between and GE Capital, aims to add 1 million credit cards to its portfolio over three years. The company has the of over 2.2 million as on March 2012.

“We have identified potential centres for growth which are beyond the tier-I cities. About 20 per cent of growth is expected from tier-II and tier-III cities in next three years,” said Kadambi Narahari, chief executive officer, SBI Cards.

While the number of outstanding credit cards in the industry continues to shrink, there has been an increase in the spends. According to Reserve Bank of India data, credit card spends increased by around 28 per cent in 2011-12 against the previous financial year. “We expect the average increase in spends to be 25-30 per cent this year,” said Narahari.

SBI Cards is also planning to launch a mobile platform to provide better service to its customers, he added. Also, the company will shortly launch a premium card targeted at high net worth individuals.

Read more on:   
|
|
|

SBI Cards to grow portfolio by 1 mn in 3 yrs

SBI Cards, joint venture between State Bank of India and GE Capital, aims to add 1 million credit cards to its portfolio over three years.

SBI Cards, joint venture between and GE Capital, aims to add 1 million credit cards to its portfolio over three years. The company has the of over 2.2 million as on March 2012.

“We have identified potential centres for growth which are beyond the tier-I cities. About 20 per cent of growth is expected from tier-II and tier-III cities in next three years,” said Kadambi Narahari, chief executive officer, SBI Cards.

While the number of outstanding credit cards in the industry continues to shrink, there has been an increase in the spends. According to Reserve Bank of India data, credit card spends increased by around 28 per cent in 2011-12 against the previous financial year. “We expect the average increase in spends to be 25-30 per cent this year,” said Narahari.

SBI Cards is also planning to launch a mobile platform to provide better service to its customers, he added. Also, the company will shortly launch a premium card targeted at high net worth individuals.

image

Read More

Rupee touches new low at Rs 56.5 vs dollar

The rupee today tumbled by 26 paise to trade at a new low of Rs 56.50 against the US dollar in early trade on increased capital outflows and strong ...

Recommended for you

Quick Links

More news from Finance Rss icon

RBS to sell private banking business to Sanctum Wealth

The move to sell the private banking business comes a few months after the management decided to exit the Indian market

RBI eases cash delivery via liquidity adjustment facility

Aims to curb recent volatility in overnight rates; however, call money market route still cheaper, say observers

Festive cheer unlikely for lenders

With consumer loan demand staying muted, not much is expected by way of discounts and incentives

Back to Top