The largest lender of the country, State Bank of India has seen an improvement in performance of its credit card segment in the fiscal last ended.
After long years of losses, the credit card segment of the bank has finally borne profits and that too at a time when results have been coming negative from all segments of the bank.
The credit card business booked profits worth Rs 7.10 crore in the last fiscal as against losses of Rs 153 crore in the fiscal prior to that.
Customer card spends has increased by 30% to Rs 6452 crore, the bank said.
SBI cards currently has 2.3 million cards.