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Delinquency in credit card industry improved by 5 bps in 2019: Report

The outstanding portfolio of private banks in the credit card space has increased by 59 per cent year-on-year while other issuers saw a 20 per cent growth in 2019 over 2018.

Topics
Credit Card | Indian Banks | Credit card industry

Subrata Panda  |  Mumbai 



credit card
As of December 2019, there are more than 50 million credit cards in circulation, clocking a 25 per cent growth over last year, with 69 per cent of them issued by private banks and the rest 31 per cent by public sector banks and foreign banks.

The overall volume delinquency in the industry improved by 5 basis points (bps) in 2019 and stood at 0.8 per cent, with private improving their performance compared to other card financiers. As of December 2019, there are more than 50 million credit cards in circulation and portfolio of the industry stood at Rs 1.24 trillion as of December 2019, growing at 44 per cent over the previous year.

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First Published: Wed, May 06 2020. 22:51 IST

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