SBI Cards IPO: 10 vital facts about India’s credit card market that the draft prospectus reveals
Updated : November 29, 2019 09:14 PM IST
India’s credit card markets still remains largely under penetrated with the average number of credit cards outstanding per 100 persons in India at 2.2 as compared to 320.0 in the United States in 2017.
HDFC Bank is the market leader and has maintained its market share in the number of outstanding credit cards at approximately 27 percent over the years, followed by SBI Card at 18.0 percent.
The market share of SBI Card in terms of total outstanding cards has continuously increased over the years from 15 percent in fiscal 2014 to 18 percent in fiscal 2019.