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Data▼ Bearish for SBI Cards and Payment Services
Credit-card spending growth slows to 5.5% in August; SBI Cards loses share
The brief
- Industry spending growth eased to 5.5% in August from 7.1% in July
- SBI Cards’ share of spends fell to 17.5%
- Slower card spending and lost share weigh on SBI Cards’ growth outlook
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August credit card spending and market shares
Credit card spending fell 2.8% to ₹2.02 trillion in August, while outstanding cards rose to 124.05 million. Industry spending growth slowed to 5.5% from 7.1% in July.
Friday, 25 September
- Credit-card spending growth slows to 5.5% in August; SBI Cards loses share